Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Citigroup’s Gold “Expert” Slams Trump’s Currency Talk As “Hogwash, Hot Air”

Friday, February 10, 2017 19:40
% of readers think this story is Fact. Add your two cents.

As President Trump and Japan’s Shinzo Abe begin their weekend of golf, the topic of currency manipulation will likely be top of mind. However, for Citigroup’s “gold expert” Willem Buiter, all of Trump’s FX chatter is “hogwash” and “hot air.”

Speaking during a Bloomberg TV interview, Citi’s Chief Economist sees the dollar rising this year even as the president talks the greenback down and blasts some of the nation’s biggest trading partners for currency manipulation.

“This is all basically hogwash,” Buiter said in an interview on Bloomberg Television, referring to Trump’s criticism of China and Japan on their exchange rates. “All this currency-manipulator talk is, I think, basically hot air.”

In recent weeks, Trump and administration officials have complained that the dollar is too strong, while accusing major trading partners — China, Japan and Germany — of weakening their currencies to gain trading advantages. That’s muddied the outlook for the greenback, which fell the past six weeks and has given back more than half of its gains since the developer and reality-TV star’s November election victory.

“No matter how hard the Trump administration rattles the cage in an attempt to talk the dollar down, if the markets anticipate significant future stimulus in the U.S. and further tightening by the Fed, then whatever short-term wobbles there may be in the U.S. dollar, the dollar will only go one way relative to most other currencies,” Buiter said. “And that’s up.

Buiter further believes that The Fed is likely to hike only two times this year

Trump “probably would do well to look at basic economics of exchange rates,” Buiter said.

“You cannot have anticipated fiscal expansion and anticipated monetary tightening while the rest of the world, by and large, is in a monetary loosening mode still and expect your currency to weaken.”


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.