The Dollar's Reaction to Jerome Powell

The Bloomberg Dollar Spot Index is basically sideways for most of this year, and is actually down pretty sharply over the last nine months or so. I really don't know whether he's a hawkish or a double chairman. The dollar reaction is a very accurate reflection of what the market thinks. They did not believe his hawkish rhetoric on June 14th. They think he was forced to be more hawkish last week. We'll wait and see who is the real Jerome Powell.