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US Dollar Price Action: USD Bears Whiplashed by Dollar Reversal
Well, its 2020 and Day One of Jackson Hole has so far not disappointed, staying on theme with the craziness that has become this year. The Fed announced a potentially major change this morning when Chair Powell announced a strategy shift at the bank. While the Fed has been one of the notable Central Banks employing a dual mandate, targeting both inflation and employment, more recently we’ve seen the bank’s grasp expand to include items like income inequality and even global warming. But today they announced what appears to be a prioritization in the dual mandate that they’re charged to defend, by announcing ... (full story)