Jeff Snyder
👤 SpeakerAppearances Over Time
Podcast Appearances
And the yen is weakening.
The yen is weakening by a lot.
And there are actually a lot of currencies around the world that are actually weakening by a lot against the U.S.
dollar.
What does that actually mean?
What does the U.S.
dollar actually tell us?
It's not about interest rate differentials.
It's about monetary flows.
The U.S.
dollar is a global financial bellwether.
It tells us when conditions in the monetary system globally are either good and improving or going in the wrong direction.
When the dollar goes up, not a good sign.
That means that money is becoming tighter and flows are being constrained and restricted.
The dollar surged earlier in 2025.
If you remember the chaotic marketplace, they blamed it on tariffs for really a lot of different reasons.
The stock market was down March and April.
You had commodities being liquidated.
What was the dollar doing during that liquidation, that deflationary period?
The dollar was spiking.