Project Syndicate: In August, you wrote that though predictions of the US dollar’s early demise were “greatly exaggerated” if the US “keeps monetising large budget deficits… a surge of inflation eventually could debase the dollar and weaken its attractiveness as a reserve currency.” Since then, US Federal Reserve Chair Jerome Powell announced that the central bank would loosen its approach to inflation-targeting and leave interest rates near zero through at least 2023. To what extent does this heighten the risks to the dollar? What about in combination with a second term for US President D...