US President-elect Donald Trump wrote on his social media platform, Truth Social, on Saturday, demanding the BRICS countries use the US Dollar (USD) as their reserve currency and threatened to impose a 100% tariff if they supported another currency to replace the USD, per BBC.
US President-elect Donald Trump wrote on his social media platform, Truth Social, on Saturday, demanding the BRICS countries use the US Dollar as their reserve currency and threatened to impose a 100% tariff if they supported another currency to replace the USD, per BBC. The statement comes as Trump steps up his tariff threats after he announced plans to impose a 25% tariff on Mexico and Canada and an extra 10% tariff on China over illegal migration and drug trafficking into the United States.
The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
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