Fifty years ago this summer, the Nixon administration decided to decouple the dollar from its gold backing. This monumental decision took a sledgehammer to the Bretton Woods Agreement of 1944, sent shock waves throughout the global economy, upset foreign relations with America’s closest allies, and led to macroeconomic changes like floating exchange rates, accelerated globalization, and an era of burden sharing among key countries. Today the U.S. dollar faces another set of challenges—from escalating tensions with China, evolving digital currencies, new forms of protectionism, and America’s own political and institutional crises. Is Washington facing another historical turning point for both its currency and its foreign policy?
Join us for a special event featuring Fareed Zakaria, Gillian Tett, and Jeffrey Garten as they discuss Garten’s new book, Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy.