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Inside the Mind of Mnuchin: Too-Strong Dollar May Hurt Economy

  • Treasury nominee responds to written questions from senators
  • Mnuchin says he’ll review issue of China currency manipulation
Bloomberg business news

Mnuchin Says Strong Dollar May Hurt U.S. Economy

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U.S. Treasury Secretary nominee Steven Mnuchin said an “excessively strong dollar” could have a negative short-term effect on the economy.

“The strength of the dollar has historically been tied to the strength of the U.S. economy and the faith that investors have in doing business in America,” Mnuchin said in a written response to a senator’s question about the implications of a hypothetical 25 percent dollar rise. “From time to time, an excessively strong dollar may have negative short-term implications on the economy.”