The dollar is rising against other currencies to levels not seen in decades, hurting other countries and the U.S.
This episode of What’s Ahead lays out why the greenback is rocketing and why that’s a symptom of bad economic and monetary policies.
The Federal Reserve, for example, is now reducing the basic money supply with the goal of depressing the economy. It thinks that’s the way to fight inflation. It isn’t. Moreover, there’s confusion among policymakers about inflation itself. There are two kinds of inflation that require two distinct approaches. The confusion over this is leading to unnecessary pain for everyone.
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