JPMorgan CEO Jamie Dimon declares the US will hang on as the world's top reserve currency — for 2 key reasons

Detailed summary

Dimon is still confident in the power of the U.S. dollar, though he recognizes that America needs to be "a little careful how we use our power sometimes." ...

JP Morgan CEO Jamie Dimon doesn't believe the U.S. will lose its position as the global reserve currency.

"If we have the strongest military in the world and the strongest economy in the world, we will be the preeminent reserve currency," Dimon said at a Oct. 14 panel discussion at the Economic Club of Chicago. "It is those two things."

The American dollar accounts for 89% of all foreign exchange transactions globally, according to a 2025 survey of central banks conducted by the Bank of International Settlements. President Trump's volatile application of tariffs have not knocked the dollar off its towering position in global finance, but some nations with larger reserves anchored in dollars have diminished the size of those holdings.

Dimon argued a core strength of the dollar is its ability to be spent freely without any capital restrictions imposed by the U.S.

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