Summers Sees Biggest Dollar Threat in Decades From ‘Scary’ Moves

March 5, 2025, 7:43 PM UTC

Former Treasury Secretary Lawrence Summers said that volatile policy actions and rhetoric from President Donald Trump are posing the biggest risk to the dollar’s dominance in the world economy in half a century.

“The broad approach we are taking to the rest of the world represents the biggest threat to the US dollar’s role as the central currency in the world economy we have had in the last five decades,” Summers said in an interview on Bloomberg Television Wednesday.

Larry Summers, former US Treasury Secretary, Wall Street Week contributor, and Harvard University President Emeritus joins “Balance of Power” to discuss President Donald Trump’s address to Congress, the impact of tariffs on the economy, the Department of Government Efficiency and threats to the US dollar. Source: Bloomberg

Trump has jacked up tariffs on Mexico, Canada and China in recent weeks, and is planning a ...

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