The editorial board of The Wall Street Journal skewered the Trump administration after Treasury Secretary Steven Mnuchin championed "a weaker dollar" in Davos, Switzerland, on Wednesday. "Someone ought to tell these fellows the history of strong- and weak-dollar presidencies," the Journal wrote in response to Mnuchin's comment to reporters that a weak dollar is "not a concern of ours at all."
The Trump administration's argument is that "a weaker dollar is good for trade" because it could potentially boost exports, making American-made items more appealing for foreign buyers. On the other hand, foreign goods would become more expensive to U.S. buyers and "Americans don't live in an economic bubble," The Wall Street Journal scolded:
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