Geopolitical & economic threats: 'US is incredibly unreliable as core of European financial system'

The dollar slipped against major currencies as President Trump’s unprecedented bid to fire Federal Reserve Governor Lisa Cook reignited fears over the Fed’s independence, shocking global investors. Jens van ’t Klooster, Professor of Political Economy at the University of Amsterdam, warns that the EU must craft a strong long-term economic strategy to challenge the US directly. He argues Europe has been overly dependent and unassertive in its transatlantic economic strategy. Criticizing Trump’s use of sanctions and tariffs as thinly veiled “extortion,” he concludes the US is now “incredibly unreliable as the core of the European financial system.” Van ’t Klooster is also a Visiting Fellow at the LSE Grantham Research Institute.