At the beginning of 2020, the United States M1 money stock was $3,947 billion. Only one year later, this number has skyrocketed to $6,742 billion, over 70% higher. By a similar token, the assets on the Federal Reserve balance sheet have ballooned from $4,174 billion to $7,335 billion. Along with fears of inflation, these figures have caused some to worry about the future of the U.S. Dollar as the world’s premier reserve currency, especially given China’s impressive economic performance and Europe’s push to create a more dominant euro.
Currency Wars
Updated: Sep 14, 2024
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