What can a monetary superpower do?

Harm to itself and a lot of damage to others:

The U.S. economy is plodding along amid turbulence around the globe, a sign of its relative strength despite mounting questions about its long-term vitality.

In recent months, Europe skidded toward a Greece-induced disaster, China’s growth worries whacked its stock market and global oil prices resumed their plunge. But the world’s largest economy has, so far, regained some traction coming out of a winter slowdown.

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