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Dollar to stay as reserve currency: Fed's Williams
Despite problems in the U.S. economy, the U.S. dollar is likely to remain the world's reserve currency, a top Federal Reserve official said on Wednesday. "It may be better than the alternative," San Francisco Federal Reserve Bank President John Williams said after a speech to the Rotary Club of Seattle. Williams also said that while U.S. monetary policy cannot solve the world's problems or be a panacea, it can reduce "spillover" effects from the fundamental problems that beset the economy.