The latest from Jon Hilsenrath at the WSJ talks about the frustration at the Fed that many households can’t access credit and take advantage of low borrowing rates.
Last year, nearly 90% of all new mortgages originated went to households with high credit scores; before the financial crisis, it was about half.
Hilsenrath is seen as a mouthpiece for the Fed (wrongly, I believe, but that’s for another day) and this story has a dovish tilt so it’s weighing on the US dollar.
