Fed's Rate Hikes Propel Global Shift Away from U.S. Dollar, Says Atlantic Council The Atlantic Council has identified the Federal Reserve’s rate hikes as a key driver behind the growing trend of de-dollarization globally. The Fed’s rate increases, coinciding with the aftermath of Russia’s invasion of Ukraine, have made dollar borrowing costlier and less accessible. This change has encouraged emerging market firms to explore alternatives like the Chinese Yuan (RMB). The think tank also acknowledges the geopolitical elements in play, particularly the Western sanctions against Russia, which have frozen Moscow’s currency reserves and restricted its access to the global financial system, further accelerating the move away from the U.S. dollar. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts IMF Cautions Against Premature Rate Cuts by Central Banks READ MORE Retaliation Promised: Biden's Response to Drone Attack in Jordan READ MORE Venezuela's Gold Reserves Plunge Over 11% Amid Economic Challenges READ MORE Gold Market Shines During Spring Festival, Yet Slower Growth Expected Ahead READ MORE Why Buy Gold? 11 Reasons to Invest in Physical Gold Bullion READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment