A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist James Brander shared...
© Reuters. An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS By Yuka Obayashi TOKYO (Reuters) – Oil prices rose for a second day early on Tuesday, as U.S. plans to purchase oil for the Strategic Petroleum...
US Plans To Buy 3 Million Barrels Of Oil For Emergency Reserve – Bloomberg Source: Investing.com
United States President Joe Biden has announced his nomination of two people for key positions on the Federal Reserve, including a new Fed governor and economist Philip Jefferson as vice chair. In a May 12 notice from the White House, President Biden said he would put forward Jefferson — currently a Fed governor — to...
Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength of the currency in the future....
© Reuters. FILE PHOTO: Member of the Federal Reserve Board of Governors Philip Jefferson attends a dinner program at Grand Teton National Park where financial leaders from around the world are gathering for the Jackson Hole Economic Symposium outside Jackson, Wyomin WASHINGTON (Reuters) -U.S. President Joe Biden is expected to nominate Federal Reserve Governor Philip...
The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial...
Wed 03-05-2023 22:45 PM WASHINGTON, 3rd May, 2023 (WAM) — The U.S Federal Reserve, in its meeting held today, raised interest rates by 25 basis points (bp). The decision sets the U.S. Central Bank’s benchmark overnight interest rate to the 5.00 percent – 5.25 percent range, the tenth consecutive increase since March 2022. Khoder Nashar...
Uday Kotak, the CEO of Kotak Mahindra Bank, a financial institution based in India, recently expressed his view on the dominance of the U.S. dollar in global financial markets. Kotak stated that the U.S. dollar has “disproportionate power” as a reserve currency, retracting his previous statement in which he referred to the currency as the...
U.S. Senator Rand Paul has warned that the U.S. dollar could lose its status as a global reserve currency. “For a variety of reasons, both foreign policy as well as fiscal irresponsibility, yes, the dollar is in a precarious position,” said the lawmaker. Senator Rand Paul on U.S. Dollar Losing Reserve Currency Status U.S. Senator...