Rescue U.S. Dollar pls! Secretary Yellen Again Plans to Visit China for Help|AsianQuicktake
On April 12th, all three major US stock indices fell as the Federal Reserve released minutes from its March monetary policy meeting, which showed that a banking crisis is expected to trigger an economic recession later this year. Meanwhile, the Consumer Price Index (CPI) rose by 5% YoY in March, marking a two-year low in growth rate.
The minutes from the March meeting of the Federal Open Market Committee revealed that attendees discussed the potential impact of Silicon Valley Bank’s closure and the volatility in the financial markets earlier in March. The minutes indicated that the consequences of a banking crisis in the US could lead to an economic recession later this year.
With the pressure of a recession looming in the US, Europe is facing significant risks, as described by French President Emmanuel Macron, who warned that Europe may be “in a crisis that does not belong to us.“
Following a three-day visit to China, Macron stated during an interview on his return flight to France that Europe must strengthen its strategic autonomy and resist the pressure of becoming a “follower of the US.“
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