The changing dollar regime: An update

Date

October 16, 2025, 9:00 AM to 10:00 AM EDT
PIIE Webcast, Washington, DC
Adam S. Posen (PIIE), Joseph E. Gagnon (PIIE), Maurice Obstfeld (PIIE) and Moritz Schularick (Kiel Institute for the World Economy)

Event Summary

This event revisits and expands on themes from PIIE’s spring discussion, “Does changing the trade regime change the dollar regime? To Mar-a-Lago and beyond.” Against the backdrop of shifting trade policies, financial flows, and geopolitical realignments, the panel explores if and how the dollar’s role in the global economy may evolve.

Maurice Obstfeld shares his latest insights on the international role of the dollar in light of recent policy changes. Moritz Schularick analyzes the evolving and increasing significance of the euro within the global monetary system. Joseph E. Gagnon provides insights on US debt sustainability through the latest data, including analysis of the interaction between the dollar and tariffs. The discussion is moderated by Adam S. Posen.

MODERATOR

Adam S. Posen 
President, Peterson Institute for International Economics (PIIE)

SPEAKERS

Joseph E. Gagnon 
Senior Fellow, PIIE

Maurice Obstfeld 
C. Fred Bergsten Senior Fellow, PIIE

Moritz Schularick 
President, Kiel Institute for the World Economy

Video