Speaker of the House Kevin McCarthy (R-CA) announced an “agreement in principle” with Joe Biden on a deal to raise the federal debt ceiling Saturday night.
Sanctions imposed on Russia under the Biden administration, following Russia's military action in Ukraine, have shaken the foundation of the U.S. dollar's global dominance.
"Ensuring that government follows the same nonaggression principle as law-abiding citizens is the key to a society of freedom, peace, and prosperity," writes Dr. Paul.
Hillary Clinton criticizes House Republicans for using the debt ceiling as a political weapon, warning that it undermines the U.S.'s global credibility and plays into the hands of adversaries like Vladimir Putin and Xi Jinping, and warns of the potential danger of playing games with the debt ceiling to the U.S. dollar's pre-eminent position in the global economy.
New York City Democratic Mayor Eric Adams blasted President Biden Friday, saying that the White House’s policies on the border issue has turned the city into a disaster.
"The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions," says CEO and co-CIO of Eurizon SLJ Capital.
"There is risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said, adding that implementing sanctions against Russia "does create a desire on the part of China, of Russia, of Iran to find an alternative."
