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One of our more popular recent video excerpts from The Macro Show featured Hedgeye CEO Keith McCullough explaining how the falling U.S. dollar is front-running the Federal Reserve and is a further slowing U.S. growth signal.  

In the new clip above, McCullough digs deeper into the relationship between recent U.S. dollar moves and the Fed’s “dot plot” forecast for the economy.

“Like usual, their forecast is for the economy to go up and to the right—that is dead wrong,” McCullough explains.

“The market is starting to say, ‘Every incremental data point I get the Fed is going to have to take this forecast and drop their dots down, then what I’m going to do is start selling dollars and front-run the Fed, going incrementally more dovish.”

Watch the full clip for more.

Is A Weakening Dollar Front-Running The Fed? - early look