Bridgewater Disagrees With Yellen Over Issue Of Strong Dollar

U.S. exports, which had been a moderate support on U.S. economic growth, turned to a drag on GDP, a Bridgewater Associates strategy document points out. This occurs as a strong dollar makes U.S. goods more expensive, but the Bridgewater document does not cite this as a major issue, saying the dollar rally seems to be having a “modest” impact on the drop in exports. Others disagree.

Bridgewater: slowdown driven by capital goods exports, but exports to Japan, Europe remain strong

The May 19 report, written by Bob Elliott and David Trinh, note that nearly all the slowdown in exports is attributed to slowing capital goods exports used to create...