The president wants a weaker dollar, and he wants the Federal Reserve to help him get it by lowering interest rates. Trouble is, that’s not why the Fed lowers interest rates, and weakening (or strengthening) the greenback isn’t in the Fed’s job description. By law, the central bank is required to promote full employment and control inflation. Both of those can influence the exchange rate, and sometimes the exchange rate can influence them. But employment and inflation are the priorities.

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