Former Fed international finance chief Stephen Kamin and former US Treasury economist Mark Sobel said the main threat to the dollar was a “serious deterioration” in the US fiscal and economic situation. The publication writes about this Business Content.
Kamin and Sobel drew attention to the political polarization in the country.
“The ineffectiveness of the US Congress and the disinterest of politicians from all walks of life in controlling the growing US budget deficit is hardly unthinkable,” experts said.
They added that the dollar’s loss of global dominance amid ever-rising inflation, crowding out private investment and high financial instability may be the least of the problems for the United States and other countries.
Before that, BitRiver financial analyst Vladislav Antonov aforementionedHe said that the ruble exchange rate may behave strangely next week due to the decline in export revenues.
Previously recognizedHow will the weakening of the ruble affect the state of the economy?