US Treasury Sec. Yellen: Global economy resilient in face of challenging geopolitical landscape
Source Fxstreet
US Treasury Secretary Janet Yellen said on Tuesday that the “global economy resilient in the face of the challenging geopolitical landscape.”
Additional quotes
Urge European banks to heighten compliance measures and increase focus on russian evasion attempts-remarks to bankers.
European banks should ensure that overseas branches stringently apply sanctions compliance policies, especially in high risk jurisdictions.
Continues to explore new ways to reduce russia's revenues and acquire goods for its war in Ukraine.
The most concerning evasion of US Russian sanctions has come through China, UAE, Turkey but watching europe as well.
Banks have bolstered compliance measures in response to US warnings on secondary financial institution sanctions.
Actions by global financial sector are helping to frustrate russia's ability to procure battlefield goods.
Global financial conditions have eased since 2023 banking sector turmoil, risks broadly balanced.
Remaining vigilant to elevated corporate debt, leverage and liquidity mismatches in non-bank sector, commercial real estate strains.
Market reaction
The US Dollar Index is holding steady at 104.58, at the time of writing, little affected by Yellen’s comments.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
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