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In 1971, Treasury Secretary John Connally famously remarked how the US dollar was "our currency, but your problem," [1] referring to how the US dollar was managed primarily for the US' interests despite it being the currency primarily used in global trade and global finance. A strong dollar is recognized to have many benefits but also potential ...
The dollar surged against global currencies last year and looks to remain strong in 2025 if global investors continue pouring money into the booming U.S. stock market, according to Societe ...
The term exorbitant privilege (privilège exorbitant in French) refers to the benefits the United States has due to its own currency (the US dollar) being the international reserve currency. For example, the US would not face a balance of payments crisis, because their imports are purchased in their own currency. Exorbitant privilege as a ...
The US dollar continues to underpin the world economy and is the key currency for medium of international exchange, unit of account (e.g. pricing of oil), and unit of storage (e.g. treasury bills and bonds) and, despite arguments to the contrary, is not in a state of hegemonic decline (cf. Fields & Vernengo, 2011, 2012).
While the economy is cooling from the torrid pace of the pandemic, fueled by fiscal and monetary stimulus, real gross domestic product (GDP) per capita still expanded by 2.1% in the third quarter ...
The United States has a highly developed mixed economy. [40] [41] [42] It is the world's largest economy by nominal GDP and second largest by purchasing power parity (PPP). [43]As of 2024, it has the world's sixth highest nominal GDP per capita and eighth highest GDP per capita by PPP). [10]
"The economy is continuing to chug along. There's really no impetus to be alarmist here," she said. Aronov added that rates aren't as restrictive as the Fed may have expected.
The solution to the Triffin dilemma for the United States was to reduce dollars in circulation by cutting the deficit and raising interest rates to attract dollars back into the country. Some economists believed both these tactics, however, would drag the U.S. economy into recession. [citation needed]