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Steven Mnuchin, a former Goldman Sachs banker and the 45th President of the United States’ pick as the treasury secretary asserted in his support for a stronger dollar at the Senate confirmation hearing, which is striking different from his boss Donald Trump’s views, who this week criticized China for currency manipulating and called the level of the dollar as too strong.
Mr. Mnuchin said “the long-term strength over long periods of time is important. And again, I believe that’s a reflection of, I believe, we have the most attractive investment environment in the world. We have to protect our US companies so they’re not forced abroad.”
It’s not just Mr. Mnuchin, many of Mr. trump’s picks for the cabinet have reiterated views, which are in some cases, either different or in contrast to the President’s ideas. Mr. Trump, however, welcomes that and said that his cabinet picks are doing great at the hearings and he want them to be themselves and not just share his views.
Mr. Mnuchin's support for a strong dollar in the long-term could have a major impact on policies but only time will how much of that actually happen.
