That's the Federal Reserve being themselves. Buy US dollars, use US dollars as the global currency. It makes a lot of sense for the USA, not necessarily for the rest of the world. But the Federal Reserve represents it's country interest, so it makes sense.
This is the FederalReserve taking a measured analysis, saying "wow all those luddites were hilariously wrong and have no idea what they're talking about, but we're going to stop just short of saying this is already pretty amazing".
I do know some parts of the US govt has complained about the pegging because it made US workers more expensive than Chinese workers.
And the I remember the £ in the 90's crashing out of the Exchange Rate Mechanism when it was pegged to the German DM as Germany had(still has) a strong economy which sent interest rates soaring to something like 12 or 15%!!!
So pegging currency to others must be more nuanced than that it seems.
Because the US makes it easy for you to trade dollars around. The dollar's dominance will collapse the moment that significant restrictions are introduced around who can hold it, how they can hold it, and what they can trade it for.
China doesn't care one whit about making it easy for a foreigner (or a local) to trade its money (or derivatives) around. China cares about stabilizing its economy. If the CPC decides tomorrow that currency controls are necessary to stabilize their economy, you're going to be SOL. If the CPC decides tomorrow that USD, or BTC, or RMB can't flow out of China, you're SOL. And so on, and so on.
I wouldn't recommend making investments when you don't understand the risks.
There's just no way traditional FX can compete when you can instantly swap a USD token for a token of any other currency at tiny cost everywhere in the world. Crypto exchange already does this, and sometimes better, it's just harder for people to figure out.
Even the half-way situation we have today of USD stablecoins trading for local currency in other countries is likely going to obliterate traditional FX in a few years. It's already happening, and really fast.