Why dollar dominance is here to stay

Steven Kamin, senior fellow at the American Enterprise Institute, and Mark Sobel, OMFIF’s US chair, discussed their paper, ‘Dollar dominance is here to stay for the foreseeable future’. They explored the dollar’s role in the global financial system and the benefits of this, as well as the lack of viable alternatives and prospects for other currencies gaining greater traction. They also examined their view that the US itself is the greatest threat to dollar dominance, considerations on the use of financial sanctions and the potential ramifications of these.

Elliot Hentov, head of macro policy research at State Street Global Advisors, Geoffrey Yu, senior market strategist at BNY Mellon, Gerard DiPippo, senior geoeconomic analyst at Bloomberg and Rachel Ziemba, senior fellow at Center for a New American Security also contribute to the discussion.

You can read the full report here.

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