Mnuchin said there should be real consequences
Well they've tried talk for about 15 years with no effect. The market will continue to believe every administration is all talk on FX until proven otherwise. Trump didn't do himself any favors on the credibility front by promising to name China a currency manipulator on Day 1 and then backtracking once he won the election.
More Mnuchin:
- The idea is to come out with an infrastructure plan shortly
The rumblings about it have been very disappointing so far. That was one promise that could have really made a difference and found bi-partisan support but it looks like the deficit hawks have killed it.
