Powell Probe Fuels Dollar Doubts as Yuan Expands Global Reach
TL;DR Summary
Economists warn that politicizing the Fed could dent confidence in the U.S. monetary system just as Beijing accelerates the yuan’s globalization, with Powell’s investigation seen as undermining central‑bank independence; the developing dynamic could bolster yuan use in cross‑border payments and lending even as the dollar remains dominant in Swift and trade finance, signaling a shifting global currency landscape.
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