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Era of U.S. dollar may be winding down
Economist Kenneth Rogoff’s new book entwines currency’s ascension, his own experiences, and looks at what looms ahead.
As a teen chess pro in the late 1960s and early ’70s, Rogoff traveled to tournaments in the Eastern Bloc provided him with rare insight on America’s Communist rivals. This release feels extraordinarily well-timed, given the recent sell-off of U.S. Treasuries and the dollar’s decline following President Trump’s April 2 tariff announcement. You write in this book that era of dollar dominance is in “late middle-age, but still in good health.” Is that still true in light of Trump’s second-term trade war?
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