The Biggest Threat to the Dollar Is Coming From Inside the White House

The dollar isn’t getting dethroned—yet—by outside rivals, but Trump may be doing their work for them.

U.S. Federal Reserve Chair Jerome Powell speaks during a news conference in Washington on July 30. September 17, 2025, 1:28 PM Comment icon View Comments ( )

The U.S. dollar, for all the incessant handwringing over its imminent demise as the global reserve currency, remains clearly ensconced on its throne. But that could start to change as soon as Wednesday, with a much-watched meeting of the U.S. Federal Reserve.

The latest Dollar Dominance Monitor , compiled by the Atlantic Council, shows that the U.S. dollar still has no rival for any of the central attributes of a reserve currency: The dollar is st

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