EU Weighs Pooling Dollars to Reduce Reliance on Fed: Reuters

European financial stability officials are debating whether to create an alternative to Federal Reserve funding backstops by pooling dollars held by non-US central banks, Reuters reports, citing five officials familiar with the matter.

• Move aimed at reducing reliance on the US under the Trump administration
• Ongoing talks said to be at staff rather than top European Central Bank policymaker level and involve central banks in the euro zone and outside the bloc
• Kush Desai, a White House spokesman, told Reuters that Trump has “repeatedly affirmed his commitment to maintaining the strength and power” of the dollar
• ECB and Fed ...