What future global role for the dollar?

August 13, 2020

An NPR Marketplace story states, "The U.S. dollar has been on a pretty steady decline ever since the pandemic began and the American economy plunged into recession. As every major currency is rising against the greenback, some financial professionals are asking if the long reign of the dollar as the world’s dominant currency is in question.

The story quotes Ford School professor Kathryn Dominguez commenting on the fluctuating state of the currency.

The story states, "The dollar may someday be replaced, just as the British pound yielded to a rising U.S. currency and economy a century ago."

Dominguez notes, "An easy prediction is that the dollar would not necessarily maintain its dominant role forever; but exactly how that evolves I think it’s very hard to predict.”

You can hear the segment here