- Since 1995, the "strong-dollar policy" has been interpreted to refer to the strength of the dollar in relation to foreign currencies. According to Snow, the policy should refer to the value of the dollar in relation to the confidence it inspires in the public, and its resistance to counterfeiting.
So, they're giving you $20 dollar bills which buy fewer foreign goods, but on the other hand, they have more pretty colors. That's a nice trade, isn't it?
It's conceivable that there's some justification for the policy change -- but it's not Snow's line, which doesn't pass the laugh test.