Trump’s policies raise questions on future dominance of U.S. dollar, Macklem says

Bank of Canada Governor Tiff Macklem in Ottawa on Sept. 17. He says U.S. President Donald Trump's economic policies are changing how investors view the U.S. dollar.

President Donald Trump’s erratic trade policies and attempts to influence the Federal Reserve have raised questions about the future of U.S. monetary policy and the U.S. dollar’s status as the world’s reserve currency, Bank of Canada Governor Tiff Macklem said Tuesday.

In a speech in Saskatoon, Mr. Macklem said the U.S. President’s decision to impose sweeping tariffs on most trade partners and continue running massive fiscal deficits is changing how investors view the U.S. dollar.

“It’s too early to know if this is the start of a new era. For now, the greenback remains dominant, and – without a clear alternative – I suspec