One of the main takeaways was that the biggest threats to dollar dominance are swelling US debt levels and fiscal deficits, which officials in Washington could step up to tackle.
"The biggest challenge to US dollar dominance is the US itself given the mounting public debt levels and elevated fiscal deficits," JPMorgan said, in a note summarizing the webinar.
For instance, many alarmists have focused on the dollar's share in foreign reserve holdings, often pointing out that the foreign central banks have piled into gold as an alternative.
But this fixation omits the fact that bank deposits, sovereign wealth fund assets, and other dollar instruments have been on the rise among reserve holdings, JPMorgan said.
"In China's case, it has had an explicit target to bring down dollar holdings in FX reserve but has shifted USD holdings to state-owned entities.
Persons:
—, Peter G, Mark Sobel —, Trump, Sobel
Organizations:
JPMorgan, Service, US, Peterson Foundation, Treasury, Monetary, Financial, greenback
Locations:
Washington, China
![Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Brandy-Zadrozny-Circle-Byline-Template.Jpg](/find/mix/0?q="Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Brandy-Zadrozny-Circle-Byline-Template.Jpg"){kind=link}