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Tariffs, the Fed and America’s crumbling reserve currency – the economic volatility is painting a gloomy fiscal picture that will result in a recessionary slowdown, according to one expert.
“The dollar is weakening, and that always leads to future inflation,” Forbes Media Chairman and editor-in-chief Steve Forbes said on “Varney & Co.” <www.foxbusiness.com/shows/varney-co> Monday.
“Since 2023, gold’s gone from $1,800 to $3,400 an ounce. That’s a sure sign we’re going to have a weak dollar ahead,” he expanded, “which means ultimately turbulence and higher prices in the marketplace. Just look at the 1970s, and we can see where that leads unless something is done about it now. But I don’t see any sign that the authorities have any idea, constructively, of what to do, sadly.”
Wall Street’s top indexes each lost more than 1% and the U.S. dollar fell to a three-year low on Monday, Reuters reported, as President Donald Trump’s <www.foxbusiness.com/category/donald-trump> public criticism of Federal Reserve Chairman Jerome Powell continues and markets battle global trade and tariff tensions.
Tariffs, the Fed and America’s crumbling reserve currency – the economic volatility is painting a gloomy fiscal picture that will result in a recessionary slowdown, according to one expert.
“The dollar is weakening, and that always leads to future inflation,” Forbes Media Chairman and editor-in-chief Steve Forbes said on “Varney & Co.” <www.foxbusiness.com/shows/varney-co> Monday.
“Since 2023, gold’s gone from $1,800 to $3,400 an ounce. That’s a sure sign we’re going to have a weak dollar ahead,” he expanded, “which means ultimately turbulence and higher prices in the marketplace. Just look at the 1970s, and we can see where that leads unless something is done about it now. But I don’t see any sign that the authorities have any idea, constructively, of what to do, sadly.”
Wall Street’s top indexes each lost more than 1% and the U.S. dollar fell to a three-year low on Monday, Reuters reported, as President Donald Trump’s <www.foxbusiness.com/category/donald-trump> public criticism of Federal Reserve Chairman Jerome Powell continues and markets battle global trade and tariff tensions.
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