Central Bankers Gather in Portugal Amid Fears for Dollar’s Global Dominance
The world’s top central bankers from the US, Europe, Britain, Japan, and South Korea will meet in Sintra, Portugal next week to discuss global economic issues.
While inflation appears controlled in most countries, the bigger concern is whether President Trump’s protectionist policies could threaten the US dollar’s 80-year dominance in global finance.
Fed Chair Jerome Powell faces particular scrutiny as he resists Trump’s pressure to cut interest rates, with fears that any threat to the Fed’s independence could weaken the dollar’s status as the world’s preferred currency.
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