Fed’s Clarida: Dollar’s role as global reserve currency is secure


“The US dollar’s role as a global reserve currency is secure,” Federal Reserve’s Vice Chairman Richard Clarida said on Monday, as reported by Reuters.

Additional takeaways

“Getting demand and supply of workers into balance may take some time.”

“Central bank digital currency is under an active study to get a sense of both benefits and costs.”

“Upgrades to existing payments systems would provide many of the benefits of a central bank digital currency.”

Market reaction

These comments don’t seem to be having a significant impact on the USD’s performance against its rivals. As of writing, the US Dollar Index was unchanged on the day at 90.30.

Articles You May Like

Central African Republic president launches crypto initiative following Bitcoin adoption
EU officials reach agreement on AML authority for supervising crypto firms
OPEC+ oil boost likely not much help to high gasoline prices
Yen Surges on Safe Haven Flow; Stocks, Yields, Oil and Metals Fall
China COVID update. Beijing further relaxes curbs, Shanghai declare victory … but …