Banking leaders and policymakers gathered for the International Monetary Fund’s spring meetings downplayed the prospect of a looming financial crisis, despite warnings that the US-led trade war threatens global market stability.
The chaotic trade war, triggered by a flurry of tariffs announced and then sometimes scaled back by President Donald Trump’s administration, has prompted escalated volatility across equity, currency and US Treasury markets. Global growth forecasts have been cut, and some, including Bundesbank President Joachim Nagel, fear a coming recession.
