Dollar is pretty much dead.. the full brunt of inflationary pressure hasn’t even hit full bore yet but it will. Everything is costing much more and the case will be who has enough dollars to cover their cost of living and household debts, most will default which in turn spark destruction of the money in circulation thus causing deflation. Banks are in major, major trouble..the collapse of Archegos is a flashing red light to the health of financial system. With the IMF formally reviving drawing loans on SDRs instead of Dollars now again, we are truly in uncharted waters with all the negative hits coming down on the US economically.
This is all going to come to a head by fall, the pain becoming acute by winter. All of this going on with the backdrop of a resurgence of a “stronger” more lethal COVID strain here. There will probably be another stimulus as Congress recognizes that the financial system is close to breaking again like last year and send a bulk of the money to the banks and some crumbs to the citizens.