Dollar dominance in global finance: Is it stronger than Donald Trump?

When the president undermines the rule of law and the independence of institutions like the Fed, he threatens a pillar of American economic strength

The United States dollar seems to be under threat from multiple quarters. Countries that have been hit by American sanctions, such as Iran and Russia, economic rivals like China, and even allies in the European Union want to shake off the dollar’s tight grip on global finance.

For now, they are out of luck. The American economy and financial markets are the largest in the world, and there are no good alternatives.

In the long run, however, the rest of the world might get its wish. The dollar’s status as the dominant global reserve currency is the result of faith