What really ties the world’s money together? Paul Krugman breaks it down in “Federal Reserve 101, Part II: The Global Dollar System,” showing how dollar demand shapes rates, trade, and crises—and why Fed moves ripple worldwide. https://paulkrugman.substack.com/p/federal-reserve-101-part-ii-the-global Click for the full piece. #FederalReserve #Economy #GlobalFinance #USD