Why the world’s reserve currency may have much further to fall
The Economist reports that the strength of the dollar and America’s international credibility are not one and the same.
“Confidence, especially international confidence, is a fragile flower,” warned William Treiber, a long-serving Federal Reserve official, to colleagues of the central bank’s rate-setting committee in 1961. “We must be constantly alert to conduct our monetary and fiscal affairs so that we provide no basis for those abroad to raise questions regarding the ultimate soundness of the dollar.” The Federal Reserve... ...
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