Trump thinks a weaker dollar is great, but the U.S. needs a stable currency as national debt heads toward $40 trillion, former Fed president says

President Donald Trump welcomed the dollar’s recent decline, but a former Federal Reserve president said the astronomical size of U.S. debt requires more stability for the currency.

The U.S. dollar index has plunged 10% over the last year and 1.2% this month alone. That’s after Trump shocked global market last spring with his “Liberation Day” tariffs, while concerns about ballooning debt, central bank independence, and a schism with European allies have weighed on the greenback more recently.