Fed's Powell Says U.S. Dollar Is Still Dominant Reserve Currency; There Is Not Another Economy With All The Same Features
Portfolio Pulse from Happy Mohamed
Federal Reserve Chairman Jerome Powell stated that the U.S. dollar remains the dominant reserve currency, as no other economy possesses the same features. This statement comes amid concerns about the dollar's status due to rising inflation and competition from digital currencies.
June 21, 2023 | 4:22 pm
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Fed's Powell's statement on the U.S. dollar's dominance as the reserve currency may provide stability to the market, potentially benefiting the SPY ETF.
Powell's statement on the U.S. dollar's dominance as the reserve currency may alleviate concerns about the dollar's status, which could lead to increased market stability. This stability may benefit the SPY ETF, as it tracks the performance of the S&P 500 Index, which is influenced by the overall market sentiment.
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