US banking crisis poses global threat, former Treasury official tells RT ...News

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US banking crisis poses global threat, former Treasury official tells RT
source : Russia Today ( News ) () 56
Contagion could spread to Europe and beyond, Paul Craig Roberts warns The policies of the US Federal Reserve are responsible for the unfolding banking crisis and could lead to more failures in the sector, Chairman of the Institute for Political Economy Paul Craig Roberts believes. The official, who served in the US Treasury in the 1980s, talked to RT about the recent high-profile bank failures that have rattled the US financial system and the potential fallout of those events. “For many years, the Federal Reserve kept the rates very low, so the interest on the financial assets that the banks have on their balance

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