White House's Furman: Strong Dollar Is a Headwind

MarketWatch Pulse

The strong dollar is undoubtedly a headwind for the U.S. economy, said White House chief economist Jason Furman on Tuesday. In a speech at the National Association of Business Economics, Furman said the headwind from the strong dollar was largely counteracted by the lower price of oil. He said the administration was continuing to be vigilant about risks to the economy from overseas. The headwind from the dollar was "another reason" to strengthen the 87% of the domestic economy that is unrelated to exports, Furman said. White House officials don't often comment on the dollar.

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