Billionaire investor Ray Dalio says cash is a better investment than stocks and bonds as the Fed sticks to its rate-hike plan

• Billionaire investor Ray Dalio doubled down on his faith in cash, saying it's currently more attractive than stocks and bonds. 
• "Cash used to be trashy. Cash is pretty attractive now," the Bridgewater founder said. 
• Higher interest rates translate into tight money supply in the economy, offering some returns on the dollar, Dalio said. 

Billionaire investor Ray Dalio doubled down on his view that cash is no longer trash, saying that the dollar is more attractive than stocks and bonds. 

Dalio's U-turn on the dollar comes as the Federal Reserve continues with its most aggressive campaign of interest-rate increases since the 1980s to control inflation.