Treasury Secretary Scott Bessent champions dollar dominance across global markets and stablecoins
Bessent pushed back against a bearish assessment of the U.S. economy highlighting strong growth, foreign demand for American assets and continued dollar dominance.
Source: CoinDesk
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DW NOTE
Bessent is championing dollar dominance while the 10-year yield hits 5% and the deficit runs at 6% of GDP — a combination that historically ends one of two ways: either foreign buyers step back and yields climb further, or the Fed intervenes and calls it liquidity management. Citing stablecoin adoption as evidence of dollar strength is technically true and strategically beside the point.