The Future of the Dollar

May 26, 2020

Source: Link

By Henry M. Paulson Jr. (original source Foreign Affairs)

“In late March, global financial markets were collapsing amid the chaos of the novel coronavirus pandemic. International investors immediately sought refuge in the U.S. dollar, just as they had done during the 2008 financial crisis, and the U.S. Federal Reserve had to make huge sums of dollars available to its global counterparts. Seventy-five years after the end of World War II, the primacy of the dollar has not waned.

The enduring dominance of the dollar is remarkable—especially given the rise of emerging markets and the relative decline of the U.S. economy, from nearly 40 percent of world GDP in 1960 to just 25 percent today. But the dollar’s status will be tested by Washington’s ability to weather the COVID-19 storm and emerge with economic policies that allow the country, over time, to manage its national debt and curb its structural fiscal deficit.

The stature of the dollar matters.”

Click here to read more

Relevant and recent posts

Kevin O’Leary: “I’m an ambassador for the American Dream”

To a packed Weis Center this past Tuesday, Kevin O’Leary, known for his role as an investor and TV personality on ABC’s long-running show “Shark…

Thought Leader: Kevin O’Leary

Sara Fischer: Lara Trump to interview female WH officials for first Fox show

Lara Trump‘s first show as a Fox News host will highlight the key women who helped get her father-in-law President Trump elected and who now…

Thought Leader: Sara Fischer

Scott Morrison among many to express support for Jewish community

Former prime ministers Tony Abbott and Scott Morrison, among others, have expressed their support for the Jewish community amid troubling times in Australia. This came…

Thought Leader: Scott Morrison