Bloomberg Talks UC Berkeley Economics & Political Science Professor Barry Eichengreen Talks "Money Beyond Borders"
Mar 18, 2026
Barry Eichengreen, UC Berkeley professor of economics and political science and author of Money Beyond Borders, offers a sweeping look at currency history and the dollar's global role. He discusses why U.S. fiscal policy and Fed independence matter. Geopolitics, oil, and inflation risks come up, plus practical views on policy moves like the Jones Act waiver.
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Dollar's Fate Tied To US Domestic Credibility
- The dollar's future depends on domestic US political and fiscal stability rather than only global demand.
- Barry Eichengreen cites threats to Fed independence, exploding public debts, rule-of-law questions, and weakening alliances as key determinants.
Currency Use Has 2,500 Years Of Cross Border History
- Global currency history shows recurring cross-border currency uses dating back 2,500 years.
- Eichengreen traces coinage from ancient Greek and Roman coins to Byzantine circulation across the Mediterranean and into Asia.
Dollar Still Acts As A Crisis Safe Haven
- In crises the dollar reasserts safe-haven status, as seen when it jumped more in two days after the February war outbreak than any two-day period in a year.
- Eichengreen finds this reassuring but warns political attacks on the Fed could erode that trust.
