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European Central Bank officials are concerned about the US government's intervention in the foreign exchange and US bond markets, and express dissatisfaction with the US Treasury Department's failure to notify in advance of the August 1st intervention in the foreign exchange market. US Treasury Secretary Besson's expansion of long-term US bond buybacks has raised concerns among European officials about blurred policy boundaries. European officials have warned that the US government is using financial instruments for economic and trade purposes, and the market is questioning the independence of the Federal Reserve's policies and the stability of the US dollar swap mechanism, as well as concerns that the US government is pressuring the Fed to intervene in the US bond market. Federal Reserve Chairman Kevin Walsh has recently strengthened communication with European policy makers.