Money Talks: Top dollar
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 3 August 2022
⏱️ 42 minutes
🧾️ Download transcript
Summary
This year, the dollar is up by 15% against the yen, 10% against the pound and 5% against the yuan. In July, it briefly hit parity against the Euro, something that last happened two decades ago. What’s behind the greenback’s rise?
In this week’s show, hosts Mike Bird, Alice Fulwood and Soumaya Keynes examine what the dollar’s strength says about its role as the world’s dominant reserve currency. First, our US economics editor Simon Rabinovitch goes in search of lunch to determine if the dollar is overvalued. Then, Eurizon chief executive Stephen Jen tells us why the dollar is smiling. Finally Megan Greene, a senior fellow at Brown University and global chief economist for CRO, explains why efforts to replace the dollar as the world’s reserve currency have mostly failed.
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Transcript
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| 0:52.7 | The US dollar is at a two-decade high. |
| 0:55.7 | That strength is causing all sorts of short-term problems. |
| 0:59.5 | And it's raising long-term questions about the greenbacks enduring place in the global economy. |
| 1:08.8 | You're listening to Money Talks from the Economist, our weekly podcast on the markets, |
| 1:13.2 | the economy, and the world of business. I'm Mike Bird. I'm Simea Keynes. I'm Alice Foward. |
| 1:19.6 | And in today's show, why the dollar has been on a tear? |
| 1:23.2 | First, we'll find out what's behind its rise by getting some not-free lunch. |
| 1:38.3 | Then we'll look at one theory that could explain what will happen to the dollar next. |
| 1:42.1 | If you plotted the chart of the value of the currency versus the relative growth rate, |
| 1:47.5 | you see a positively sloped chart. The faster the economy grows, usually you get a higher |
| 1:53.1 | stronger currency. That's very intuitive. But there's one currency, the US dollar, that has both |
| 1:59.0 | features. It looks like the smile. Finally, we'll ask what it all means for the dollar. |
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