Bundesbank President Cautions of 'Meltdown' If U.S. Does Not Change Course

Bundesbank President Joachim Nagel warned of a “meltdown” if the U.S. financial policy does not change, in a press conference after the G7 Finance meeting in Canada. Nagel said that during the crisis in U.S. bonds and stock markets in April following President Trump’s announcement of tariffs, the world came close to a “meltdown.” Nagel kept this terminology when asked to clarify by journalists.