It’s one thing for academics in Asia to rant against the tyranny of the dollar, or to make cheery forecasts about its impending eclipse by the Chinese yuan. But now that Facebook Inc. wants to spawn a new global currency – one that could meet the “daily financial needs of billions of people” and perhaps rival the greenback one day ...

Bloomberg President Donald Trump denied that he’d threatened to demote Federal Reserve Chairman Jerome Powell but said he’d “be able to do that if I wanted.” The president repeated his criticism of Powell’s actions as Fed chief in an interview with NBC’s “Meet the Press.” “I’m not happy with his actions,” Trump said of Powell. “No, I don’t think he’s ...

Bloomberg The Reserve Bank of India (RBI) will lose one of its most outspoken officials, raising further questions about the independence of the central bank six months after the governor resigned under a cloud. Deputy Governor Viral Acharya has asked to leave the central bank, citing “unavoidable personal circumstances,” the RBI said in a statement on Monday. His resignation request, ...