The US Dollar is fine

News stories abounded in the last two days reporting that the US Dollar (DXY index) had the worst first half since 1973. See examples below: Financial Times: Bloomberg: The New York Times: The Wall Street Journal: Also, stories from the New York Post, The Guardian,…

Powell didn’t give an inch

I thought Federal Reserve Chairman Jerome Powell would begin to acknowledge economic weakness at the FOMC meeting yesterday given all the deterioration I wrote about on Tuesday, but he didn’t — at all. Jeffrey Rosenberg of Blackrock aptly said the Fed is in ‘nothing to…