Trump's economic advisor: A potential Trump administration will support a strong dollar and may limit the rise of cryptocurrencies

2024-10-14 16:21:02

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ChainCatcher news, according to CoinDesk, Trump's economic advisor Scott Bessent stated in an interview with the Financial Times that a potential Trump administration is unlikely to deliberately devalue the dollar and will support a strong dollar policy. Bessent believes that sound economic policies will naturally lead to a strong dollar and mentioned that Trump's proposed tariffs of up to 20% on imported goods will ultimately be weakened.

Although Trump is seen as pro-cryptocurrency, a strong dollar policy may limit the gains of risk assets priced in dollars, such as cryptocurrencies. Bessent is the founder of the global macro investment firm Key Square Group and is considered a leading candidate for Trump's Secretary of the Treasury position. As the November 5 election approaches, prediction markets show Republican candidate Trump is narrowing the gap with Democratic opponent Kamala Harris.

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