US policies eroding dollar’s position, say Knot and Obstfeld
Euro and renminbi unlikely to supplant greenback, but “more multipolar” system could arise
The policies of the current US administration are putting pressure on the dollar’s status as a global currency, Klaas Knot and Maurice Obstfeld have said.
Speaking at an event at the Peterson Institute for International Economics (PIIE) Spring Meetings in Washington on April 17, entitled ‘Decentering the dollar’, they pointed to US president Donald Trump’s attacks on the Federal Reserve and the erosion of the international rules-based order as actions that were undermining the dollar’s global
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