Europe's central bankers are departing the U.S. state of Wyoming and a key annual gathering with their U.S. counterparts, far from reassured that long-standing norms in global cooperation and communication remain unchanged.
They are worried that more turmoil is ahead for an already testy relationship with Washington, Reuters reported on Sunday, citing sources familiar with the discussions.
Federal Reserve (Fed) policymakers went out of their way to ease their counterparts' concerns this week, promising to honor all of their commitments.
But, given the separation between the central bank and the administration, they could offer no guarantees against sudden policy shifts by U.S. President Donald Trump, more than half a dozen officials on the sidelines of the Kansas City Fed’s annual Jackson Hole Economic Symposium said.
Recent U.S. Treasury interventions to prop up the Japanese yen and to lower longer-term U.S. borrowing costs were particularly concerning as they foreshadowed more intervention and breaks with norms, the officials, who asked not to be named, said.
