The president said a firm currency benefits the country and prevents price rises. Federal Reserve Chair Kevin Warsh said in September that inflation had remained too high.
U.S. President Donald Trump said a strong dollar gives the country economic advantages and allows it to avoid inflation. He also told reporters that the U.S. economy was doing well and that hundreds of factories were being built around the country, RIA Novosti reported.
The statement came as the Federal Reserve continues to focus on price growth. In September, Fed Chair Kevin Warsh said inflation had remained too high for too long.
The latest U.S. Bureau of Labor Statistics report available at the time showed consumer prices were up 3.4% over the year in August, while the index excluding food and energy rose 2.4%. The bureau had scheduled the September CPI report for October 14.
Trump’s statement that inflation was absent was his assessment, rather than a description of the official price index: the published figures continued to show increases in consumer prices.