Trump and the Strong Dollar: A One-Day Follow-Up

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Yesterday the Wall Street Journal blared the news that Donald Trump’s comments on the dollar being too strong had sent the dollar “reeling.” I suggested we might want to wait a few days before buying into this, but it turns out I was wrong. We only had to wait one day:

This follows the usual formula: (a) Trump says something, (b) a related financial index reacts instantly, and (c) by the next day everything is back to normal. I gather that there are folks on Wall Street who are writing algorithms to make money off this dynamic, but it’s unclear how long that can last. I mean, how many times can this happen before everyone realizes that Trump’s blather doesn’t really mean anything?

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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