The U.S. national debt surpassed $38 trillion in October 2025, only two months after crossing the $37 trillion mark.
Some news outlets are framing the Federal Reserve’s latest fed chef replacement proposal as evidence that the dollar is becoming significantly stronger. I find that misleading. Adding another trillion dollars of debt in such a short period doesn’t signal a strong dollar especially not merely because the Fed claims to have better leadership or talent in place.
What we need is real fiscal progress, not just new faces saying things are improving. I’m not convinced that the next Fed leader will be able to resolve the debt problem.
Given the current circumstances, is it an exaggeration to call the dollar ‘ becoming strong’?