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In the event of another financial crisis, Britain would be entirely reliant on the Federal Reserve for dollar swaps due to the exposure of its banks in dollar markets.
“if there were another financial crisis like there was in 2008, like there was in 2020 at the beginning of the pandemic, we would be entirely reliant on the Federal Reserve providing dollar swaps to us.”
UnHerd · Nov 2025 · 1 episode · 48K views on this topicExtracted by a model; may misattribute who said what.
Complete months · first on record Oct 2023