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Reply to "We almost (might have) lost reserve currency status"
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[quote=Anonymous][quote=Anonymous]So, trying to understand: Trump was fine with the market crashing as long as it was a vehicle to bring rates down, by way of getting people to invest in traditionally safe bonds. (The ultimate goal likely being tax cuts.) The working assumption was that bonds would never be anything but safe. But in a sign of how much credibility Trump has lost, bonds were not, in fact, safe — the bond market itself was tanking. So he backed off, sort of, but now we know something important that we hadn’t: The world no longer considers the US a safe place to put any money. Do I have this right? [/quote] Yes, that’s right. I also think that this was part of the conversation Trump had with Mark Carney.[/quote]
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