In mid-2019, an article in the Wall Street Journal quoted President Donald Trump as stating that the Fed’s interest rate target was “way too high” and that “the euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage.

a. What does President Trump mean by other currencies being “devalued against the dollar”? 

b. Is there an economic connection between the president’s desire for lower interest rates in the United States and his desire to avoid having other currencies devalued against the dollar? Briefly explain. 

c. In what sense do other currencies being devalued against the dollar “[put] the U.S. at a big disadvantage”?