With Trump Back in the White House, It’s Time to Take Another Look at "The Dollar’s Imperial Circle".

The Fed has published a study on the subject as early as 2022, and this mechanism is in full swing.

The Fed's data are conclusive. The Broad Dollar Index, which estimates the value of the greenback relative to a basket of currencies representing America's trading partners, reached an all-time high on January 10, 2025.

As a naive approach might suggest, this record is a risk, as the US dollar is the main raw material for growth in the global economy, pa…