“Frederick Douglass is an example of somebody whoâ€™s done an amazing job and is getting recognized more and more, I notice.”
They want to normalize, but they need to figure out how to do so in a way that doesn’t lead to “excessive” dollar strength lest they should all end up getting purged for treason Erdogan-style.
But as far as markets are concerned, the new administration’s FX policy is just as crazy. In fact, that statement is itself crazy. That is, the fact that the new administration has a discernible “FX policy” is nuts. And this isn’t some “well it would be nice if…” kind of thing.