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The U.S. Dollar's Global Roles: Where Do Things Stand?

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Abstract

Previous Liberty Street Economics analysis and New York Fed research addressed the potential implications for the United States if the dollar’s global role changed, noting that the currency might not retain its dominance forever. This post checks the status of the dollar, considering whether any erosion in the dollar’s international standing has occurred. The evidence to date is that the dollar remains the world’s dominant currency by broad margins. Alternatives have not gained extensive traction, albeit this does not rule out potential future pressures.

Suggested Citation

  • Linda S. Goldberg & Robert Lerman, 2019. "The U.S. Dollar's Global Roles: Where Do Things Stand?," Liberty Street Economics 20190211, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87311
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    Keywords

    pass-through entities; Dollar role; reserve currency;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General

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