Janet Yellen says the US trade deficit is likely to get even bigger. Here’s why she’s right

Donald Trump’s America First economic policies are designed to shrink the US trade deficit. But according to Janet Yellen, the former chair of the Federal Reserve, the deficit is on track to get bigger by the end of 2018.

Speaking at a conference in Beijing, Janet Yellen said that the steady rise in US interest rates is pushing up the value of the dollar, which will likely cause the US trade gap to widen further, according to Bloomberg (paywall).

If she’s right, that’s glum news for

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