Business
Joe Biden inauguration: Greenback bears owe Janet Yellen a debt of gratitude – The Australian Financial Review
New US Treasury Secretary Janet’s Yellen’s call for policymakers to ‘act big’ on stimulus has stoked debt fears.
The theory dictates the US dollar does well when there’s a crisis or when the US economy is outperforming its global peers. Unfortunately, the US economy is stuck in the mediocre middle at least for now.
Yellen faces an unenviable challenge in trying to get the US back to the right side of the “smile”.
That means risking the US balance sheet by encouraging the investment of trillions in productivity-enhancing infrastructure, potentially lifting longer-term growth and underwriting the status of the…
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