A crash in the dollar is likely and it could fall by as much as 35 percent by the end of 2021.”
So writes Stephen Roach of Yale University and the former Morgan Stanley Asia chair, in the Financial Times. What is going on?
To Mr. Roach, the past is catching up with the United States, the present is observing the potential for a financial collapse, and the future will be left with the job of reconstructing a new world. Where is Mr. Roach coming from?
Where Is The Federal Reserve?
The Federal Reserve seems to have taken itself out of the picture with its new approach to inflation and its interest rate policy.
As Mr. Roach writes,
The Federal Reserve has recently shifted to a strategy that takes into account an average of inflation rather than a specific target, and promised to keep policy rates near zero for several