Central Banks
Fed’s Waller Says US Dollar to Withstand Threats From China, Crypto
- Recent developments strengthen the dollar’s status, he says
- Central bank governor doesn’t comment on Fed policy in speech
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Federal Reserve Governor Christopher Waller said the US dollar is likely to keep its preeminent status globally despite recent threats from cryptocurrencies, the rise of the euro and China’s promotion of its own yuan.
“I do not expect to see the US dollar lose its status as the world’s reserve currency anytime soon,” Waller said in a speech Thursday at the University of the Bahamas. “Recent developments that some have warned could threaten that status have, if anything, strengthened it, at least so far.”