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Commerce secretary says U.S. isn't abandoning 'strong dollar' policy
By Matthew J. Belvedere
CNBC, New York
Wednesday, January 24, 2018
Commerce Secretary Wilbur Ross took issue today with media characterizations that the United States is departing from its historically strong dollar policy.
Treasury Secretary Steve Mnuchin's remarks at a news conference at the World Economic Forum in Davos, Switzerland should not be interpreted as a call for a weaker U.S. currency, Ross told CNBC.
Earlier today Mnuchin said, "Obviously, a weaker dollar is good for us as it relates to trade and opportunities," but he added that the short-term value is "not a concern of ours at all" and "longer term, the strength of the dollar is a reflection of the strength of the U.S. economy."
The Trump administration has made stronger economic growth a top priority.
Ross said in a "Squawk Box" interview from Davos that Mnuchin "was not advocating anything" in terms of the dollar. "I think what he exactly said is the dollar, just like the Treasury bond market, is a huge market, a very liquid market. It's not something we worry a lot about day by day," Ross argued. ...
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