Dan McDowell on *Bucking the Buck: US Financial Sanctions and the International Backlash Against the Dollar*
Macro Musings with David Beckworth
00:00
The Fed's Role in the Global Dollar System
The Fed almost has its hands tied it has to step in. And when it does that, it's effectively opening up its balance sheet. If they know that the US would default and again, this would be a default not driven because we can't afford it,. It'd be a political choice, a decision that could have been avoided. But still, politics sort of intervening to affect the appeal of the dollar as a global currency.
Transcript
Play full episode
