Federal Reserve Governor Christopher Waller observed there hasn’t been a significant change in the dollar’s dominance over the last couple of decades. While he noted potential future challenges, issues like digital currencies will enhance the dollar’s position. That’s because stablecoins are predominantly in dollars.
Other observations he made included an analogy comparing cryptocurrency with baseball cards. Plus, he can’t see any need for a retail central bank digital currency (CBDC) but is more neutral about wholesale CBDC.
Governor Waller was giving a speech about the dollar’s international role during a Global Interdependence Center (GIC) event in Nassau, Bahamas.
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