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All big US banks pass Fed’s annual stress test
Keywords: Fed's Stress Tests Of 31 Us Banks 2024,
Tags: Current Focus, Renewal America, Renewal Europe, Managing Business, United States, Germany, European Union, China, India, Britain, Banks / Insurance, Capital Markets, Movement for Renewal of America, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 7. Democracy Support Action, 10. Health- Body/Mind Wellbeing for All ,
The US Fed under Jerome Powell stress tests of 31 banks for 2024 shows the banks can withstand a rise in unemployment to 10% and 36% drop in house prices. This is relevant now that the new administration of DJT makes another effort to correct the huge trade imbalance with China, Mexico and Canada, which itself is destabilizing in the long run and needs to be addressed.
The first term of DJT failed to correct the imbalance with new tariffs kept in place by the Biden administration. This is not just one's imagination, reports suggest China has poured $230 billion of subsidies into its EV industry since 2003 mandate given by premier Jen Biao to dominate that industry. And now has capacity of 20 million car production a year, twice the domestic demand in gasoline cars, wanting to send the surplus production to the US and Europe.
This isn't the 1930's type of tariffs, it is simply to get a fair even playing field for trade, where no one side is massively subsidizing and dumping which is one of the principles of WTO free trade that is being broken by China and Mexico. Specifically the anti dumping clause in Article 6 of the 1994 GATT agreement on free world trading mechanism to ensure free and fair trade.
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