Core Viewpoint - The uncertainty surrounding U.S. economic policies is suppressing economic growth [1] Group 1 - The International Bank for Settlements highlights that the current economic policies in the U.S. are creating an environment of uncertainty [1] - This uncertainty is identified as a significant factor contributing to the slowdown in economic growth [1] - The report suggests that clarity in economic policies could potentially enhance growth prospects [1]

Core Viewpoint - European political figures are advocating for the repatriation of gold reserves stored in the United States, particularly from Germany and Italy, due to increasing geopolitical risks and concerns over the reliability of U.S. economic policies [1][5][11]. Group 1: Gold Reserves and Value - Germany holds 3,352 tons of gold and Italy has 2,452 tons, with over one-third of their gold stored in the New York Federal Reserve, totaling a value exceeding $245 billion [3][5]. - The call for repatriation is driven by the desire to secure national assets amidst rising geopolitical tensions, particularly in the Middle East [5][11]. Group 2: Geopolitical Concerns - The recent volatility in the Middle East has heightened the appeal of gold as a safe-haven asset, prompting European nations to reconsider their gold storage strategies [5][11]. - Concerns over U.S. economic policy, particularly influenced by former President Trump's criticisms of the Federal Reserve, have led to increased anxiety regarding the stability of U.S. financial governance [7][9]. Group 3: Trust Issues and Historical Context - Historical reasons for storing gold in the U.S. stem from Cold War fears, but current geopolitical dynamics suggest that the necessity for such arrangements may be diminishing [11][12]. - There is a growing sentiment among Europeans that U.S. actions, particularly under Trump's administration, are undermining their interests, leading to a gradual erosion of trust [11][12]. Group 4: Future Implications - Despite the desire for repatriation, significant progress is unlikely in the short term due to the complexities of transatlantic relations and the ongoing political landscape [12]. - Many European leaders still view the New York Federal Reserve as a reliable storage partner, indicating a cautious approach to any immediate changes in gold storage policies [12].

欧洲央行管委警告 必须对下一步降息保持谨慎 金十数据5月13日讯，欧洲央行两名管委会成员表示，鉴于美国总统特朗普的经济政策存在高度不确定 性，欧洲央行在决定下一步利率举措时必须谨慎。欧洲央行管委内格尔和管委艾斯克里瓦强调了美国新 政府带来的挑战，包括在欧元区制定货币政策的困难。"我们在评估当前形势时需要保持谦逊，"艾斯克 里瓦表示，并补充称欧洲央行必须收集更多信息，"努力理清哪些因素占上风。"内格尔则表示："关于 货币政策的决定，重要的是要保持谨慎，不要过度强调可能很快改变的具体公告。" ...