Since US has the largest public and private debt denominated in US $, it helps when $ devalues and lowers effective debt burden. If $ goes down by 50%, all debts are reduced by half. FED is managing a well orchestrated debt reduction by devaluation. If that helps with balance of trade, profits for global corporations etc, that is an added bonus in getting political support. As long as inflation is kept reasonable, say about 6%, it may not be all bad. The important thing is keeping the drop orderly.