European financial stability leaders are contemplating the creation of a separate system for supporting currencies outside the United States. This potential mechanism, aiming to centralize dollar holdings by major banks outside the US, stems from concerns regarding the Federal Reserve’s existing dollar support system, which provides loans to foreign central banks during market crises. 🇺🇸 The initiative follows a strategy adopted under former U.S. President Donald Trump to reduce reliance on US dollars for international financial stability. Concerns regarding potential misuse of these mechanisms arose in April, but were later eased after assurances from the Federal Reserve. Nevertheless, consolidating dollars remains technically challenging, potentially limiting feasibility. A White House spokesperson confirmed that President Trump maintains a commitment to preserving the dollar’s influence globally.