> Nobody is cheering for inflation to get worse, they are celebrating it being held down to 2.7% after higher inflation a few years ago.
Trump is actively fighting the federal reserve to drop the interest rate to 0%. Members of his team regularly do interviews where they say "it's going to get worse before it gets better". Inflation is being held down despite this administration's best efforts.
> The U.S. is a net exporter of oil and food and self-sufficent for majority of its mineral needs as well.
And has been for a while. But the current conservative rhetoric is specifically about bringing manufacturing jobs back.
> There is no need for U.S. to crash its currency to incentivize domestic production, it can just impose tariffs on imports to do so.
I don't think autarky is this administration's only stated goal. They specifically see an export-led economy as being more important or even "legitimate" and are pushing for other countries to import our goods. Devaluing currency is a strong way to incentivize exports and China's currency manipulations were the key to their rise as a manufacturing power.
The reason it was 0 for so many years was because the Fed was trying desperately to create inflation during this time. (Which was chronically low for other reasons).
Lowering interest rates to create inflation is literally one of the core tenants of the Federal Reserve:
Trump is actively fighting the federal reserve to drop the interest rate to 0%. Members of his team regularly do interviews where they say "it's going to get worse before it gets better". Inflation is being held down despite this administration's best efforts.
> The U.S. is a net exporter of oil and food and self-sufficent for majority of its mineral needs as well.
And has been for a while. But the current conservative rhetoric is specifically about bringing manufacturing jobs back.
> There is no need for U.S. to crash its currency to incentivize domestic production, it can just impose tariffs on imports to do so.
I don't think autarky is this administration's only stated goal. They specifically see an export-led economy as being more important or even "legitimate" and are pushing for other countries to import our goods. Devaluing currency is a strong way to incentivize exports and China's currency manipulations were the key to their rise as a manufacturing power.