US Dollar Currency Weaponization Is Reducing Its Global Impact- Yellen
United States Secretary of the Treasury Janet Yellen has recently agreed to the fact that American currency weaponization through sanctions could prove lethal for the US dollar. Yellen testified before the House of Financial Services Committee on Tuesday, adding her comments on US dollar sanctions proceedings. She voiced her concern about protecting the international status of the US dollar, accentuating the fact that several nations have expedited efforts to derail the US dollar due to the US’s ability to sanction other countries. Also Read: Currency: US Dollar On Track To Lose 99% Of Its Value- Michael Saylor Weaponization Of The US Dollar Source: iStockphoto Yellen on Tuesday addressed one of her major concerns regarding the US dollar. The American currency is slowly attracting new enemies as several nations are diversifying and opting for other currency alternatives. This development can significantly hamper the US dollar’s prestige, adding more pressure to the US economy. Ye...