Your Money Minute — “The US Dollar Is Weak 1/23/26”

Date: January 23, 2026
Host: Jessica Ettinger (CNBC)
Featured Expert: Rick Santelli (CNBC)

Episode Overview

This concise episode breaks down the impact of the US Dollar’s weakness, examining why it’s intentional under the current administration and whom it benefits or hurts. The discussion navigates the tension between macroeconomic strategy and the real-world effects for average Americans, referencing both corporate winners and everyday losers in plain, direct language.

Key Discussion Points & Insights

1. A Weak Dollar: By Government Design

• [00:00-00:07] Jessica Ettinger:
  • States up front that the “US Dollar is weak, but that's by design.”
  • Frames the episode as an explanation of why this is happening deliberately.

2. Policy Perspective: Good for Business, Good for the Deficit

• [00:07-00:16] CNBC voice:
  • “The current administration wants a weaker dollar because it's great for business. It makes a much bigger difference on the deficit with China.”
  • Asserts that a weaker dollar helps American businesses, especially those trading internationally, and impacts the US trade deficit favorably.

3. Impact on Main Street: The American Consumer Gets Hurt

• [00:16-00:41] Rick Santelli:
  • “A weak US dollar isn't great for average Americans.”
  • Quote [00:22]: “They're forgetting something. The biggest dynamic in the midterms, guys, is affordability. And a weaker dollar means that Joe Six Pack on Main street, his dollar doesn't go nearly as far on the imports coming into the country. And I think that is a big negative for a weaker dollar.”
  • Emphasizes rising costs for imported goods, suggesting that everyday Americans feel the pinch.
  • Points out the political ramifications—affordability is a major issue.

4. Winners: Multinational Companies

• [00:41-00:50] Jessica Ettinger:

  • Cites examples: “US Companies that do a lot of business by making or sending products overseas like Coke and Pepsi or Microsoft and Apple, well, they love the weak dollar.”
  • Reiterates that large corporations with global operations benefit financially.

• [00:50-00:59] CNBC voice:

  • Quote: “So do you go the business side, the S&P 500 multinationals that are going to be happy about it or, or do you think about Main street that's going to be unhappy about it.”
  • Condenses the crux of the policy debate: serve the interests of multinational business or prioritize the purchasing power of average Americans.

5. Beneficiaries Beyond the US: Foreign Tourists

• [00:59-01:18] Jessica Ettinger:

  • Notes that “one beneficiary of a weaker dollar” is foreign visitors:
    • “where their currency is stronger means it's cheaper for them to travel here.”
  • Implies a potential boost to the US tourism sector.

• Wrap: For more information, directs listeners to CNBC.com.

Notable Quotes & Memorable Moments

• Rick Santelli on Affordability [00:22]:

  “The biggest dynamic in the midterms, guys, is affordability. And a weaker dollar means that Joe Six Pack on Main street, his dollar doesn't go nearly as far on the imports coming into the country. And I think that is a big negative for a weaker dollar.”

• Multinationals vs. Main Street [00:50]:

  “So do you go the business side, the S&P 500 multinationals that are going to be happy about it or, or do you think about Main street that's going to be unhappy about it.”

Timestamps for Key Segments

• 00:00-00:07: Introduction – US dollar is intentionally weak
• 00:07-00:16: Weak dollar helps US business and trade deficit
• 00:16-00:41: Rick Santelli challenges the benefits for average Americans; focus on affordability
• 00:41-00:50: US multinationals benefit from the policy
• 00:50-00:59: The dilemma: help big business or Main Street?
• 00:59-01:18: Foreign tourists benefit; episode wrap-up

Takeaway

This quick-hit episode distills a complicated topic: US dollar policy isn’t just about economics—it’s about choosing winners and losers. While multinationals and foreign tourists may benefit, the average American contends with higher prices for imports and squeezed affordability. The tone is direct and informative, leveraging both market and street-level insight.