The dollar is hovering around a two-month high. Up until a couple months ago its value had been falling since January. What’s behind the uptick? And what forces may end this trend?
Stephen Miran, President Trump’s latest appointee to the Federal Reserve Board Governors, wants the federal funds rate to be a full 2 percentage points lower than its current level.
As inflation accelerates, the job market is slowing. That leaves the Federal Reserve in a dilemma over its dual mandate of stabilizing prices and maximizing employment.