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Inflation Keeps the U.S. From Stepping In to Slow Dollar’s Rapid Rise
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WASHINGTON—U.S. policy makers aren’t likely to take action to slow the dollar’s rapid rise despite rising risks of global financial turmoil, analysts say, largely because a strong greenback helps fight domestic inflation.
The U.S. dollar has soared in value as the Federal Reserve raises interest rates to fight the highest U.S. inflation in decades and investors move money into dollar-denominated assets. The WSJ Dollar Index, which measures the dollar against a basket of other currencies, is up roughly 16% so far this year.
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