The Federal Reserve's meeting minutes indicate that the U.S. financial system remains significantly vulnerable

ChainCatcher news, according to Jinshi reports, the Federal Reserve released the minutes of the July meeting, indicating that the stability of the U.S. financial system is still described as "significantly" fragile. Staff assessments show that asset valuation pressures are high, stock market price-to-earnings ratios are at historical highs, and the spreads on high-yield corporate bonds have narrowed significantly. Although household debt to GDP is at its lowest level in the past 20 years and household balance sheets are robust, private sector debt is growing rapidly, and interest coverage ratios have fallen to historical lows, indicating that vulnerabilities in this area may be exacerbated.