The Fed also fears that stresses in China’s real estate sector could strain the Chinese financial system, with possible spillovers to the United States. In its financial stability report, it cites the heavily indebted Evergrande as an example of the risks. In China, business and local government debt remain large; the financial sector’s leverage is high, especially at small and medium-sized banks; and real estate valuations are stretched.
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or the USD $DXY hits record lows vs bitcoin $BTC
Has the Fed suddenly realised that it’s policy of years and years of Ilya low interest rates and trillions of QE has created an asset price bubble? Dug themselves into a very deep hole.
this is terrible news
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