![The Dollar’s Imperial Circle](/summary-img/47178-LEX89WWG.jpg?h=M&b=0)
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Strong and stronger: That’s the story of the US dollar’s seemingly unending upward trajectory. Because the United States relies less on manufacturing than do other nations, the American economy has become increasingly insulated from the outside world, while the dollar continues its reign as the world’s currency of choice in trade, banking and foreign exchange. Economists Ozge Akinci, Gianluca Benigno, Serra Pelin and Jonathan Turek provide an expert overview of how hawkish Federal Reserve policy fortifies this feedback loop: The dollar buffers the US economy while emerging markets suffer the knock-on effects.
Summary
About the Authors
Ozge Akinci and Gianluca Begnino are with the Federal Reserve Bank of New York. Serra Pelin is with the University of California, Berkeley. Jonathan Turek is with JST Advisors.
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