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Against the backdrop of a rising frequency of supply shocks hitting central banks worldwide, a Federal Reserve official has offered a direct assessment of the dollar's position at the center of the global monetary system.
Musalem said he sees no conditions forming that would displace the U.S.
dollar as the primary reserve currency, citing America's standing as the world's most innovative and highest-growth economy, supported by an effective rule of law.
Dollar anchored by structural advantages Musalem's argument rests on two pillars he made explicit: innovation leadership and rule of law.
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