Trump says strong dollar hurting exports, in latest salvo at Federal Reserve

The U.S. dollar is too strong and is hurting exports, President Donald Trump said on Thursday, attacking the Federal Reserve for keeping interest rates higher than he would like.

“As your President, one would think that I would be thrilled with our very strong dollar. I am not!” Trump said.

The comments on Twitter were his latest barb against the central bank, and marks the president returning to his long-held view on the world’s reserve currency.

The U.S. this week accused China of devaluing the yuan and labelled Beijing a currency manipulator, as the trade war between the world’s two largest economies continued to show signs of deepening.

The trade war is weighing on the global economy.

“They have called it wrong at every step of the way, and we are still winning,” Trump lashed out at the Fed.

Federal Reserve Chief, Jerome Powell, has openly said he plans to complete his four-year term, amid concerns the president may seek to end his tenure early.

The tweets by the president against the central bank are becoming more regular and increasingly agitated.

The four living former chairs of the U.S. Federal Reserve this week signed a joint call insisting on the independence of the central bank, in remarks taken as directed against the president.

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