The classic supply-side agenda for unleashing productive economic growth seeks to achieve lower taxes, reduced regulation, and a stable dollar. The first two goals were pursued successfully under the Trump administration by passing the Tax Cuts and Jobs Act, which reduced corporate and individual tax rates, and by implementing Executive Order 13771, which required that for every new regulation added, two regulations had to be cut.
Achieving a stable dollar has become a more urgent goal in the wake of inflationary pressures unleashed by governments and central banks around the world. Republican presidential candidate Donald Trump and his running mate, J.D. Vance, have rightly focused on the negative impact of currency movements on the ability of U.S. manufacturers to compete in foreign markets.
The solution, though, is not to pursue a “weak” dollar versus a “strong”…
