The US Federal Reserve cited stress in China’s property sector as a potential risk to the American financial system, about two months after its chairman Jerome Powell downplayed the potential risk of contagion from China Evergrande Group. Photo: AFP
The US Federal Reserve cited stress in China’s property sector as a potential risk to the American financial system, about two months after its chairman Jerome Powell downplayed the potential risk of contagion from China Evergrande Group. Photo: AFP

US Fed warns China property sector stress could pose ‘risks’ to American economy

  • Ongoing scrutiny by Beijing of corporate debt could stress highly indebted companies, spillover to financial firms, Fed says
  • Given size of its economy, stresses in China could strain global financial markets, US central bank says

Topic |   Banking & finance
The US Federal Reserve cited stress in China’s property sector as a potential risk to the American financial system, about two months after its chairman Jerome Powell downplayed the potential risk of contagion from China Evergrande Group. Photo: AFP
The US Federal Reserve cited stress in China’s property sector as a potential risk to the American financial system, about two months after its chairman Jerome Powell downplayed the potential risk of contagion from China Evergrande Group. Photo: AFP
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