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Trump moves from trade war toward currency war
By Shawn Donnan, Rich Miller, and Katherine Greifeld
Wednesday, June 19, 2019
President Donald Trump has already given the global economy trade wars. Now there are signs he may be gearing up for a currency war too.
With a series of tweets on Tuesday aimed at the European Central Bank and an announcement by Mario Draghi, its president, that he was prepared to cut interest rates further below zero in response to Europe's slowing growth, Trump made a rare American presidential intervention into another economy's monetary policy.
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"Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others," he tweeted. Later, he added: "German DAX way up due to stimulus remarks from Mario Draghi. Very unfair to the United States!" ...
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