Federal Reserve Chair Jerome Powell said on 24-25 June that the United States continues to reap “enormous benefits” from the dollar’s position as the world’s primary reserve currency and that he expects this “durable equilibrium” to last “for a long time to come.” In the same exchange, Powell called U.S. Treasuries a reliable safe-haven for global investors. New York Fed President John Williams echoed that assessment on 17 July, telling reporters he sees no fundamental shift away from dollar-denominated assets and that the factors underpinning the currency’s strength remain firmly in place, even as some market participants hedge their exposure. Williams added that he does not anticipate changes to the dollar’s central role in the international financial system. The coordinated message from the Fed’s top policymakers comes amid renewed discussion about alternatives to the dollar, but both officials stressed that neither market behavior nor economic fundamentals point to an imminent challenge to the greenback’s dominance.