Thank goodness the U.S. doesn’t have a level playing field when it comes to Americans exchanging with producers in other countries. Importantly, it’s because Shelton could so easily outclass the well-credentialed inside the Fed that her interview was at times disappointing. In particular, Shelton made the point more than once that currency devaluation by countries makes their products more competitive globally. She knows that when it comes to investment, it’s all about products for products much as trade is products for products. So while there’s disagreement with Shelton about money, the Fed and markets, it’s my hope once again that she winds up at the Fed.

Source: Wall Street Journal June 30, 2019 12:56 UTC