European Central Bankers Anxious Over Global Monetary Cooperation Amid Trump”s Policies
European central bankers departed their annual gathering with their US counterparts increasingly concerned about the future of established international monetary cooperation norms. According to sources familiar with the discussions, there are growing fears that the policies of President Donald Trump's administration could further strain relations with Washington.
US Federal Reserve officials made concerted efforts throughout the week to reassure their European peers, affirming their commitment to upholding all their responsibilities and international pledges.
However, these officials could not offer guarantees against the possibility of sudden monetary policy shifts by President Trump, amid ongoing friction between the Federal Reserve and the US administration. This sentiment was echoed by more than six officials speaking on the sidelines of the annual Jackson Hole Economic Symposium hosted by the Federal Reserve Bank of Kansas City.