The United States enjoys a special advantage because of the preeminent status of its dollar as the world’s leading reserve currency and medium of exchange. Other countries are increasingly moving toward knocking the dollar off its throne through de-dollarization. The trend is unstoppable, but it’s unlikely the dollar will lose much of its authority any time soon.
Recent Appreciation in the U S Dollar Unlikely to Have Large Effect - Federal Reserve Bank of Kansas City inferse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inferse.com Daily Mail and Mail on Sunday newspapers.
<p><span>Thank you, Professor Jackson, and thank you to the </span><span>Harvard</span><span> </span><span>National Security Journal</span><span> for the invitation to speak at this symposium. As the payment system continues to evolve rapidly and the volume of digital assets continues to grow, it is critical to ensure that we keep both the benefits and risks of digital assets in the policy conversation, including the implications for America s role in the global economy and its place in the world. My speech today focuses on exactly this issue and on an aspect of the digital asset world that is now the center of domestic and international attention—central bank digital currencies (CBDCs) and how they relate to the substantial international role of the U.S. dollar.</span></p>
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
Prepared by Johannes Gräb, Moritz Kellers and Helena Le Mezo
The outbreak of the coronavirus (COVID-19) pandemic led to a synchronised sell-off of global risky assets, followed by an uneven recovery across sectors and countries. The stock market recovery was characterised by investors rebalancing away from countries and sectors hit by the pandemic, including airlines, tourism and energy, towards those perceived to benefit from the crisis, most notably IT and communications services, as well as pharmaceutical firms. Across countries, the pre-pandemic sector composition of the stock market explains the bulk of the differences in equity market performances in 2020 (Chart A, upper panel).