Global shift away from US dollar for reserves, trade; higher prices, lower trade volumes.

“Since Q1 ’22, rest of the world has had change of attitude toward the US dollar and fewer people are willing to hold it for reserves and trade; it’s not a flood yet but bad enough to show up in macro-level data; also seeing higher prices hide lower international trade volumes:”

Since Q1 '22, rest of the world has had change of attitude toward the US dollar and fewer people are willing to hold it for reserves and trade; it's not a flood yet but bad enough to show up in macro-level data; also seeing higher prices hide lower international trade volumes: pic.twitter.com/QTCX2fGMoN

— E.J. Antoni, Ph.D. (@RealEJAntoni) March 22, 2024