Benn Steil on Dollarization and a Potential “Mar-a-Lago Accord”
The dollar has been the de facto global currency since World War II, pulling foreign investment into the US and allowing the federal government to borrow cheaply. A strong dollar also makes export-driven domestic industries less competitive, something the Trump administration is trying to offset through tariffs. A rumored “Mar-a-Lago Accord” would attempt to maintain the benefits of cheap borrowing while weakening the dollar. In this episode, we talk with Benn Steil, Senior Fellow and Director of International Economics at the Council on Foreign Relations, about the history behind the dollarization of global finance, the economic tradeoffs of sustained dollar strength, and how new policies could upend the dollar’s role in the post-war financial system.
Simply Put
A new podcast from FHN Financial looking at the most important things driving fixed income markets and the macroeconomy. Every episode features experts who give unique insights on topics like the regional banking landscape, commercial real estate, or how to translate Federal Reserve policy into market strategies. Tune in to better understand what’s been moving markets lately, and what to keep an eye on in the weeks and months ahead. Listen and subscribe wherever you get your podcasts
- No. of episodes: 52
- Latest episode: 2025-05-29
- Business News Investing Business News
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