Vance's Stablecoin Support Defended as Critics Misinterpret His Views

JD Vance's stance on stablecoins has been called into question by critics who point to his 2023 interview. However, according to Daniel Lacalle, chief economist and investment manager at Tressis Gestion, this criticism is misplaced.

Lacalle notes that in May 2025, Vance publicly expressed support for dollar-backed stablecoins, calling them a 'force multiplier' for the U.S. economy and stating they would boost the global role of the U.S. dollar.

This comes as no surprise to Lacalle, who has previously addressed shifts in financial markets. He recently highlighted how hyperscalers' debt is increasingly replacing sovereign debt and criticized the Federal Reserve for not meeting its mandate on price stability and employment in recent years.