archiveU.S. monetary policy

Listen to article The US dollar tumbled on Monday as investor concerns mounted over the Federal Reserve’s independence, following fresh comments from President Donald Trump suggesting he may attempt to remove Fed Chair Jerome Powell. The greenback fell sharply across global currency markets, hitting a 10-year low against the Swiss franc and sliding to a seven-month low versus the yen. The euro surged to its highest level in three years, while emerging market currencies also gained ground. The market reaction followed remarks from White House economic adviser Kevin Hassett, who confirmed the...

A decade ago, a traveler from Singapore visiting Bangkok or Jakarta would likely rely on U.S. dollars or a global credit card to settle the bill. Today, things are changing. A Malaysian tourist in Thailand can pay for street food by scanning a QR code, with money instantly debited from their account in ringgit and credited to the vendor in baht. Such small conveniences are part of a broader, quiet revolt in Southeast Asia – a concerted effort by regional governments to reduce their reliance on the U.S. dollar in...