Federal Reserve Governor Christopher Waller said the US dollar is likely to keep its preeminent status globally despite recent threats from cryptocurrencies, the rise of the euro and China’s promotion of its own yuan. “I do not expect to see the US dollar lose its status as the world’s reserve currency anytime soon,” Waller said … Read more
Argentina has a long history of printing money to compensate for government overspending. That’s produced long periods of high inflation, even hyper-inflation. Small wonder, then, that the South American nation is once again considering the radical step known as dollarization, which to date has been fully tried only by much smaller economies. It means adopting … Read more
Can the Renminibi Replace the Dollar (USD) as the World’s Reserve Currency? Bloomberg Source link
The world’s reserve currency may be about to go digital, potentially transforming the way Americans move and use their money. On Wednesday, the White House directed federal agencies from the Treasury to the Commerce Department to research a number of crypto-related topics, including the pros and cons of a digital dollar. For consumers, the move … Read more
China sought to allay fears it wants to topple the dollar as the world’s main reserve currency as Beijing makes bigger strides in creating its own digital yuan. People’s Bank of China Deputy Governor Li Bo said the goal for internationalizing its currency is not to replace the dollar, and the efforts to create a … Read more