ECB's Villeroy warns Fed pressure risks dollar dominance in January 6 Paris speech

Francois Villeroy de Galhau of the ECB warned on January 6 in Paris that political attacks on Federal Reserve independence, fiscal doubts, and new trade barriers could undermine the US dollar's global role. He noted France's December 2025 inflation fell to 0.8%, and floated creating a euro-denominated safe asset amid a potential multi-currency landscape.