The Rising Influence of Rising Affluence

[10nisman]

The dollar is crushing profits for companies like MMM. If there is no inflation in September I don't see how the Fed continues to raise rates and drive the US$ up. If they're not careful we'll have a world wide recession.

First, the Fed is going to raise 75 bps in November. They have repeatedly said so and to think otherwise is beyond foolish. Second, a strong USD helps bring down inflation as it makes foreign goods cheaper. Third, the Fed could careless about MMM's earnings. MNC's have the means to easily hedge currencies and thus, any net realized FX losses are on them.