What’s Next

For the US Dollar?

Who is Andy Busch?

Economic and political research > www.andrewbusch.com

Host of“Engage with Andy Busch”

Strategic BusinessCommunications

Janet Yellen

5.3%

10.5%

Unpacking the Fed

US economy continues at 2.5%

US PCE inflation falls with oil

Fed goes 25 in Sept. but data dependent

Mario Draghi

Source: Eurostat

Source: Eurostat

Q1 2015 Unemployment By Nation

Q1 2015 Unemployment By NationGreece & Spain

Source: Eurostat

ECB’s Sinking Feeling

Unpacking the ECB

QE working, but only 1.5%GDP

Weak Euro currency

Risk for on-going crisis

Shinzo Abe Xi Jinping

Source: National Bureau of Statistics of China

Source: Cabinet Office, Japan

Which stock market is out of control?

Unpacking PBOC/BOJ

China: stock and growth panic

Japan must reform or miss TPP

Rising US dollar

Central Banks Drive Currencies

ECB Starts QE

BOJ Continues QE

Fed Ends QE

ECB Starts QE

Deflation is the problem

€60 Bn a month until €1.1 Tn increase

Goal: low rates and weak EURUSD

ECB Impact

BOJ Maintains QE

Deflation still a problem

Y80 trillion a year is the solution

Weak yen is the target

BOJ Impact

Fed Ends QE

UE<5.5% is a fact

QE done, now rate hikes

Normalization is the target

USD Index

Fed Impact SPX: +92.7% DXY: +18.4% US10YR: -21.3%

Strategic Business Communications

www.andrewbusch.com

Host of “Engage with Andy Busch”