Lazard's CEO Ken Jacobs, a global financial consultancy and asset management firm, said US insularity could weaken the dollar's world reserve currency status.
Jacobs said in an interview with Bloomberg:
In the context of unilateral foreign policy and unilateral trade policy, we encourage the world to find an alternative. Probably the greatest indicator of soft power is the fact that the US has the world reserve currency. "
The US dollar is preferred as the international currency, a half a century more, due to its stability in global markets.
Jacobs noted that the threats to the dollar's dollar are still far from it, but in the future it appears that crypto para-techs can be thought of as an alternative to the US dollar
Jacobs recently pointed to optimism about the global economy, but said it was long term risks for the United States, including not being able to reach an agreement on immigration reform necessary to accelerate future economic growth.
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