The U.S. dollar had a rough year. What's next in 2026?

Currency markets are not always sensitive to inflation itself. What they care about is what inflation signals — about growth, policy, credibility, governance, and perhaps most of all, predictability.By now, the mix is familiar — uneven goods inflation, tariffs doing their work in the background, stubbornly high rents and housing costs. Fed Chair Jerome Powell has repeatedly pointed to trade policy as a contributor to inflation overshoots, while emphasizing that officials need clearer evidence before conclud ...