By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
9
Notification Show More
News
Brussels pushes schools to serve ‘made in Europe’ fruit and vegetables
6 minutes ago
News
Brussels moves to placate Paris over South American trade deal
1 hour ago
News
Trump reaps $50bn tariff haul as world ‘chickens out’
2 hours ago
Videos
Trump’s immigration and tariffs policies: How homebuilders are feeling the impact
5 hours ago
Videos
What Trump’s New Tax Law Means For You | The Bottom Line
6 hours ago
News
Donald Trump touts $90bn in energy and AI investments at Pennsylvania event
6 hours ago
News
Dimon warns on Fed independence as Trump piles pressure on Jay Powell
7 hours ago
News
Chief US audit regulator pushed out by Donald Trump’s new SEC chair
8 hours ago
News
Howard Lutnick says easing of Nvidia’s AI chip exports linked to China deal
9 hours ago
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Forex > Powell says he expects dollar to remain global reserve currency
Forex

Powell says he expects dollar to remain global reserve currency

News Room
Last updated: 2023/06/21 at 2:44 PM
By News Room
Share
2 Min Read
SHARE

(Reuters) – Federal Reserve Chair Jerome Powell said on Wednesday he expects the U.S. dollar to remain the world’s reserve currency as long as democratic institutions and the rule of law remain in place in the U.S.

“The status of the dollar as the world’s reserve currency is a very important thing to us,” Powell told the House Financial Services Committee. “I think the reason we have that status is largely due to our great democratic institutions, the rule of law, and the fact that we have, generally speaking, had strong levels of price stability.”

“I think the dollar will remain the reserve currency as long as those things are in place,” he said.

The dollar share of official FX reserves fell to a 20-year low of 58% in the fourth quarter of 2022, according to International Monetary Fund data.

History shows that global reserve currency status “is not a permanent status, but it is a lasting one,” Powell said when lawmakers revisited the topic later in the session.

He said there was no other country that combined features such as rule of law, price stability, strong democratic institutions, and open capital accounts.

“I think in the case of the United States, as long as we maintain those characteristics of our government and our country we can continue to be the world’s reserve currency,” he said.

 

 

Read the full article here

News Room June 21, 2023 June 21, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Brussels pushes schools to serve ‘made in Europe’ fruit and vegetables

Stay informed with free updatesSimply sign up to the Agriculture myFT Digest…

Brussels moves to placate Paris over South American trade deal

Stay informed with free updatesSimply sign up to the EU trade myFT…

Trump reaps $50bn tariff haul as world ‘chickens out’

America’s trading partners have largely failed to retaliate against Donald Trump’s tariff…

Trump’s immigration and tariffs policies: How homebuilders are feeling the impact

Watch full video on YouTube

What Trump’s New Tax Law Means For You | The Bottom Line

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

Forex

Thailand’s weakening baht not all bad for economy – PM

By News Room
Forex

Sterling hits multi-month low, Fed holds rates steady amid inflation concerns

By News Room
Forex

Dollar index on verge of forming bullish ‘golden cross’ – BofA

By News Room
Forex

Japan warns against post-Fed yen slide

By News Room
Forex

Asian currencies stumble amid rising U.S. dollar and hawkish Federal Reserve stance

By News Room
Forex

Asian currencies under pressure due to Federal Reserve’s stance, says HSBC

By News Room
Forex

Dollar rallies, yen under pressure ahead of BOJ rate decision

By News Room
Forex

Gambia’s dalasi remains Africa’s strongest currency amid tourism and remittance inflows

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?