Deputy U.S. Treasury Secretary Wally Adeyemo said on Friday that Washington and the European Union must deliver a message to China that its firms face a choice between doing business with U.S. and EU economies or equipping Russia with dual-use goods.  It had to be made clear that “Chinese firms can either do business in our economies or they can equip Russia’s war machinery with dual-use goods. They can’t continue to do both,” he said

We have currency problems…We have a big currency problem.      – Former President Trump, via Bloomberg interview, 7/16/24 What’s important there is really the level of the dollar and when the dollar is stronger, obviously our wares are more expensive abroad and that kind of thing, but we don’t have an opinion on… Matters of the level of the dollar are really matters for the Treasury Department and the elected government, not for the Fed.     -Fed

When I hear about the history, when I think about and read about the history of Appalachia and the resource curse, I’m struck by the idea that you could make a similar argument about the reserve currency status of the United States dollar. Americans have enjoyed one of the greatest privileges of the international economy for the last nearly eight decades, a strong dollar that acts, of course, as the world’s reserve currency. You know