The global role of the U.S. dollar is shifting, and the consequences for interest rates and the American economy could be long-lasting.
That's the warning from Kenneth Rogoff, a professor of economics at Harvard University and former chief economist at the International Monetary Fund. In a recent interview with CNBC, Rogoff said the U.S. is entering a new era of fiscal and monetary pressure, driven in part by a long-building move away from the dollar in global markets—particularly in Asia.
