David Smick, Columnist

Trump Needs a Strong-Dollar Policy -- and Fast

A soaring greenback could affect the value of global debt, the cost of energy and even the stability of the banking system.

February 23, 2017 at 10:30 AM UTC

By David Smick

David Smick is chairman of Johnson Smick International and author, most recently, of "The Great Equalizer: How Main Street Capitalism Can Create an Economy for Everyone."

Turbocharged.
Photographer: Luke Sharrett/Bloomberg

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At the beginning of February, President Donald Trump reportedly called his national security adviser Michael Flynn at 3:00 a.m. to ask whether a strong dollar was good or bad for the economy.

He was right to ask: The Trump dollar could strengthen significantly and become a global economic and financial headache -- and trip up the president's entire economic policy.