Their Dollar, Everyone’s Problem: The Architecture of U.S. Dollar Dominance and Global Monetary Power

You earn it in one currency. You spend it in one place. It feels local. Personal. Contained. 

But the system that determines how money actually behaves operates at a different level entirely. 

In this episode, host Marwa Abdou sits down with Kenneth Rogoff, Maurits C. Boas Professor of Economics at Harvard University and author of Our Dollar, Your Problem, to unpack the architecture of U.S. dollar dominance and what it means for the global economy. 

For decades, the U.S. dollar has functioned as the backbone of global finance. It anchors trade, shapes capital flows and influences borrowing costs far beyond U.S. borders. But that dominance is not static. 

Drawing on decades of research, Rogoff explains why the dollar’s influence persists, how it is evolving and where underlying vulnerabilities are beginning to surface. From rising U.S. debt and shifting interest rate dynamics to the growing use of financial sanctions and the emergence of competing systems, this conversation explores the forces quietly reshaping the global monetary order. 

This is not a story about the dollar disappearing. It’s a story about what happens when the system built around it begins to shift.