TL;DR: Speaking to CNBC, the chief economic advisor to President Trump, Larry Kudlow, insisted the administration would not intervene in currency markets related to the US dollar’s value. The White House has been vocal about other countries weakening their respective currencies, and there is widespread belief Trump is in favor of a relatively weak dollar.

‘Steady, Reliable, Dependable Dollar’ Will Not be Weakened

Asked, “Do we have a weak dollar policy now?” Kudlow rebutted he doesn’t believe Trump wants a weakened dollar, citing the President’s tweet regarding his disapproval of cryptocurrencies whereby Trump cheered the dollar as “by far the most dominant currency anywhere in the World, and it will always stay that way.”

Instead, Kudlow said the administration was worried about other countries and their currency manipulation in favor of short-term trade advantages, but that doesn’t necessarily mean weakening the dollar in response. “Just in the past week,” he told the CNBC panel, “we had a meeting with the president and the economic principals and we had ruled out any currency intervention.” He later doubled down, insisting it was a matter of policy not to weaken the dollar.

At the administration’s disposal are several tools in this regard, including taking the dollar’s value down by selling more and impacting foreign exchanges through the Treasury’s exchange stabilization fund of nearly $100 billion. A weakened dollar might boost exports and make imports more expensive, at least in the short term, results very much in-line with Trumponomics.

Monetary Policy is More Important to Economic Growth

Calling it a “miracle” the US economy is “growing as rapidly as it is,” Kudlow also complained about Federal Reserve policy in terms of interest rate hikes (there have been more than half a dozen between 2017-2018). Kudlow downplayed the administration’s policy of trade wars and tariffs, insisting monetary policy is far more important to economic growth.

Predicting a “strong second half, as we cross over into the third quarter,” Kudlow stressed, “I think we’re in good shape” despite recent downwardly revised macroeconomic growth-rate numbers. Administration officials head to Shanghai next week for talks with China about resolving US-perceived trade imbalances.

For cryptocurrency enthusiasts, the power governments have over fiat currency is a prime reason for attempting to erect a wall between state and money. Regardless of where members of the ecosystem stand on weak or strong currencies, the fact remains, according to crypto advocates, far too few people have way too much power over giant swaths of economic life.

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.

CONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.