US EditionTrump's tariff storm a threat to dollar's dominance?
- President Donald Trump's tariffs are raising questions about the US dollar's status as the world's key trading and reserve currency.
- Mark Sobel, a former senior US Treasury official, believes Trump is undermining dollar dominance and tarnishing the United States' reputation.
- Ryan Chahrour, a professor of economics at Cornell University, noted that the dollar's safe haven status appears to have temporarily shifted to the Swiss franc, yen, and gold.
- Sobel stated it is premature to say that dollar dominance is going away due to a lack of alternatives.
184 Articles
184 Articles
Gold prices reached a new record on Monday, while the dollar weakened even further in the midst of fears over US President Donald Trump’s tariffs and his dispute with the Federal Reserve (Fed). Concern over the global economic outlook led to higher investments in secure assets, bringing gold to a record $3,396.3. The valorization of precious metal was reinforced by the dollar’s weakness, hit by Trump’s dispute with Fed chief Jerome Powell.
Gold Hits New Record at More Than $3,400 Per Ounce
Spot gold prices broke the $3,400 per oounce barrier to hit a new high of $3,424.40 on Monday morning trade as a host of factors created uncertainty among investors, boosting the safe haven demand for the metal. Tariffs continue to rock markets. The Trump administration has imposed 25 percent tariffs on all imports from Mexico and Canada. For all other partners, a 10 percent baseline tariff and custom reciprocal tariffs have been instituted afte…
Dollar And S&P 500 Tumble, Gold And Bitcoin Rise As Cash Exits U.S. In Threat To Trump Agenda
Gold and bitcoin are rallying as foreign investors shun U.S. financial assets, S&P 500 tumbles. The post Dollar And S&P 500 Tumble, Gold And Bitcoin Rise As Cash Exits U.S. In Threat To Trump Agenda appeared first on Investor's Business Daily.
The head of the US Federal Reserve is a thorn in the eye of the US President. Can Donald Trump replace the currency keeper? At least he has this checked - and thus gives the Bitcoin a new boost.
US stocks fall after Trump calls Fed’s Powell ‘a major loser’ for not lowering rates
US stocks dropped Monday as President Trump intensified his attacks on the Federal Reserve's independence -- calling chairman Jerome Powell "a major loser" for not lowering interest rates.
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