Your money is worth more now than it has been all year, and there’s not indication that the dollar index won’t stop rising. After Federal Reserve chair Jerome Powell testified to job market growth with limited inflation, stocks began an upward climb with the value of the U.S. dollar increased by half of a percent.
Amidst other currencies on the fall, for example the Euro dropping three-tenths of a percent, there’s been a steady three-week increase in value that has culminated in this leap. The U.S. dollar is at the top of its game, so it might be the best time to invest. Powell expected “several years” of this growing trend and the U.S. could really use it.
We’ve seen an unstable economic state due to tariff implementations, resulting in rising gas prices and unpredictable stock values. This can be seen with the boom of tech stocks that dominate the market, but are now experiencing drops in share value.
That’s the beauty and curse of the financial industry, everything is always changing with little to no predictability. But when a Federal member testifies to the Senate, it’s a sure indicator that the market is about to be shaken up, but not for the better in this case.