Do You Think American Dollar Hegemony Is at Risk?

Sally Kohn: I don't think American dollar hegemony is in any real danger. The Fed's interest rates are today already pushing indebted poor countries into a debt crisis, something that played out to terrible effect after the Volcker shock. She says if these countries have borrowed on adjustable rate terms or they borrowed in short-term markets, the costs of servicing their debt are going to surge at the very time that their economies are contracting.