Harvard University professor Kenneth Rogoff warned in a recent Nikkei interview that the U.S. dollar's dominance is facing a serious crisis. He pointed to an abnormal market phenomenon where the dolla...

Harvard University professor Kenneth Rogoff warned in a recent Nikkei interview that the U.S. dollar's dominance is facing a serious crisis. He pointed to an abnormal market phenomenon where the dollar's value is falling while Treasury yields are rising, suggesting that central banks are selling off their dollar assets. 

Rogoff argued that the deteriorating credibility of U.S. Treasurys and the compromised independence of the Fed are decisive factors. "Interest costs on U.S. debt now exceed defense spending, yet politicians are numb to the debt," he said, adding that President Donald Trump's pressure for rate cuts and the Department of Justice's investigation into Chairman Powell are undermining market confidence.

He highlighted that the dollar's share of foreign exchange reserves has fallen to 56%, its lowest level since 1994, and predicted that a multi-polar currency era will emerge in the next four to five years, with the yuan, euro, and crypto assets sharing the market.

Harvard professor: Dollar dominance shaking amid debt and independence crises

哈佛大學教授肯尼斯·羅格夫在最近接受《日經新聞》採訪時警告說，美元的主導地位正面臨嚴重危機。他指出了一種異常的市場現象，即美元……

哈佛大學教授肯尼斯·羅格夫（Kenneth Rogoff）在最近接受《日經新聞》採訪時警告稱，美元的主導地位正面臨嚴重危機。他指出，目前市場出現異常現象：美元貶值而美國公債殖利率卻在上升，顯示各國央行正在拋售美元資產。

羅格夫認為，美國公債信譽的下降和聯準會獨立性的受損是決定性因素。他表示：「美國債務的利息成本現在已經超過了國防開支，但政客們對此麻木不仁。」他還補充說，川普總統要求降息的壓力以及司法部對聯準會主席鮑威爾的調查正在削弱市場信心。

他強調，美元在外匯存底的份額已降至56%，為1994年以來的最低水準。他預測，未來四到五年內將出現多極貨幣時代，人民幣、歐元和加密資產將共同佔據市場。

哈佛大學教授：債務危機和獨立危機動搖美元霸權地位

加密貨幣市場正處於十字路口，準備迎接未來的發展。鑑於金融環境持續動盪，比特幣（$ BTC）已達到至關重要的階段……

比特幣價格停滯預示著突破 71,000 美元阻力位後波動性將大幅擴大

2026 年 2 月，穩定幣月交易量達到 7.2 萬億鎂，次超越了自動清算系統 (ACH) 網絡的 6.8 萬億鎂。
ACH是一種對外支付系統……

穩定幣的資金量流動量超過了美國核心金融體系。

XRP在幣安的30天流動性指數已下降歷史新低，接近於零。交易量也從2025年1月的超過2000億鎂下挫幾乎為零。
這...