Steve Forbes told Larry Kudlow on October 21 that the Fed should stop printing money, shrink its balance sheet and let the dollar strengthen, arguing that import-driven inflation reflects a weak dollar. He cited third-quarter GDP growth of 3.5% alongside import prices up 8%, including non-fuel import prices up 6% last month. In his view, rate hikes cannot fix currency-driven inflation, and the Fed is responsible for the dollar's integrity even though no one, including the Fed, can control oil prices. Retailers that booked tariff refunds show how sensitive margins are to trade costs, with Target recording a $994 million pretax refund and Walmart eligible for about $2.9 billion. A stronger dollar would lower import costs for these retailers but would weigh on companies like Apple, which expected currency movements to drag on its growth.
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Related tickers and likely impact
DXY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 101.70 |
| Change that session | 0.00% |
XAU/USD
▼ Likely negativeRelevance: low
| Market | Gold |
|---|---|
| Close on 10/21/2026 | 4,141.17 |
| Change that session | +0.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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