Stephen Jen Quoted in The Wall Street Journal: “A Weaker Dollar Has Always Been Part of Trump’s Plan”
Greg Ip, The Wall Street Journal, January 29, 2026
In a recent article for The Wall Street Journal, Greg Ip examines how a weaker U.S. dollar fits into the Trump administration’s broader economic priorities, including reindustrialisation, faster growth, and a smaller trade deficit.
The article discusses the tension between the dollar’s domestic and international roles. While the dollar’s reserve currency status supports global demand for U.S. assets, that same demand can also contribute to a stronger exchange rate and a larger trade deficit.
Stephen Jen, CEO and co-CIO of Eurizon SLJ Capital, is quoted on how the Trump administration’s approach differs from previous policy assumptions:
“Prior Administrations prioritised capital markets performance and believed that the deindustrialisation of the US was a necessary side-effect of a more efficient global economy,” Stephen Jen wrote.
The article places Stephen’s comments in the context of a broader debate over whether U.S. policy is shifting away from the long-standing “strong dollar” convention and toward a framework that places greater weight on domestic industry and external rebalancing.
Our Research
Our written research products aim to provide unique and orthogonal insights on key global economic and policy issues in a timely fashion.
