What is Janet Yellen thinking?
As the Fed wound down its QE program in 2014, the $USD hit liftoff. It has since hovered in the mid- to upper-‘90s.
Throughout this period, anytime the $USD began to move sharply higher one of more Fed officials appeared to “talk down” the $USD.
The reasoning here is simply. A strong $USD crushes corporate profits. Indeed, since the $USD began its bull market S&P 500 earnings have collapsed to 2012 levels.
A strong $USD also asks for trouble from China. It was the
