A Fractured World Ushers In the End of Dollar Dominance
A Fractured World Ushers In the End of Dollar Dominance
BACK IN AUGUST, Bank of England Governor Mark Carney gave a speech in Jackson Hole, Wyo., about the problem of the U.S. dollar.
JOE WEISENTHAL

The issue, as he identified it, was not that the dollar’s fundamentals are weak, but that they’re too strong. Even as the U.S.’s share of worldwide gross domestic product steadily shrinks, the dollar’s share of global transactions has only grown. This mismatch proves dangerous when, in the process of fulfilling its domestic mandate, the Federal Reserve makes moves that have huge ripple effects around the world.

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June - July 2020