Billionaire US fund manager Stanley Druckenmiller delivered an apocalyptic warning earlier this month that the dollar could cease to be the predominant global reserve currency within 15 years.
“I can’t find any period in history where monetary and fiscal policy were this out of step with the economic circumstances,” the chief executive of Duquesne Family Office declared.
He is not alone in expressing concerns about excess US demand, a more inflationary environment and accompanying dollar weakness. Such worries have been a contributory factor in the jittery equity markets of the past two weeks.
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