Scott Bessent, an economic advisor to Donald Trump, stated that a potential Trump administration would support a strong dollar and is unlikely to deliberately devalue the currency. He downplayed concerns of dollar devaluation under Trump's presidency and stated that good economic policies naturally lead to a strong dollar. This suggests that despite being positive for digital assets, a Trump presidency may be characterized by a resilient dollar, which could limit gains in riskier dollar-denominated assets like cryptocurrencies. Bessent also defended Trump's intention to impose inflationary tariffs on imported goods, stating that these positions would likely be watered down during discussions with trading partners.
- Content Editor ( coindesk.com )
- 2024-10-14
Trump's New Administration Would Support Strong Dollar, Economic Advisor Says