Bridger Pennington argues the U.S. dollar has strengthened about 13% over the past three years despite inflation. He defends the Federal Reserve and Jerome Powell's handling of currency policy and discusses the Fed's broader global strategy.
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All these influencer people online have been telling you cash is trash, inflation is destroying your dollar. I get that. I understand that argument. But the dollar is up 13% over the last 3 years. Like, how does that happen? Now, again, it's compared to what? All a currency is is really just compared to what? Compared to rubles or yen or euros or whatever. The dollar has done extremely well over the last 3 years despite record inflation. I know everybody criticizes Jerome Powell and the Fed and the White House. Now, you understand why they would criticize them. However, their number one job is to protect the US dollar and the strength of the US dollar. They're doing a pretty darn good job. Now, I know in the comments people are going to criticize the Fed, talk about all the problems. I get that. However, watch what they're doing. They're actually playing a very interesting global game right now, especially in regards to the US dollar. And the dollar again is up 13% over the last 3 years. And that's something you can't ignore.