Foreign exchange, the job the Federal Reserve won’t do

Jerome Powell insists he’ll hold tight on interest rates until the Fed achieves its 2% inflation target. (Image: AP)

Fri, 07 Jun 2024

By Joseph C. Sternberg The Federal Open Market Committee meets next week, when it will issue a new edition of its popular (if rarely entirely accurate) Summary of Economic Projections. This columnist and other, wiser souls already have proposed ways the Federal Reserve could improve this quarterly dot-apalooza, but let me suggest one more: it would be great if the Fed would mention the exchange rate once in a while. Managing the dollar is the most important job no one in Washington is doing these days.The strong dollar is the economic stor...

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