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There is method to President Donald Trump's madness regarding Fed Chair Jerome Powell. Trump has been hammering Powell almost daily recently because doing so is very effectively hammering the foreign-exchange value of the dollar (chart). Trump wants a weaker dollar to boost US exports and depress US imports. He has said that he favored a weaker dollar many times in the past, but now he has found a way to achieve that: by beating up on Powell.
Trump wants Powell to resign so that he can replace him with one of his loyalists, who will cut interest rates more quickly than Powell. The Fed chair frequently has said that he is in no rush to lower the federal funds rate.
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