Currencies
Mnuchin Says Strong Dollar Helps, for Now, in Financing US Debt
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Former Treasury Secretary Steven Mnuchin said a strong dollar is an advantage in helping the US to finance large fiscal deficits for now, but called on the winner of November’s presidential election to lead a new initiative to rein in the federal debt burden.
“I think it is a good thing,” Mnuchin said when asked if the dollar’s strength was positive for the US economy. “For one, the dollar is the reserve currency of the world, and that’s allowed us to finance these very large deficits.”