[The EU considers consolidating non-U.S. countries' dollar reserves to reduce reliance on the Federal Reserve] According to a report by Jinse Finance, European financial stability officials are discussing a plan to establish an alternative liquidity support mechanism to the Federal Reserve by consolidating dollar reserves held by central banks outside the United States. The aim of this move is to reduce dependence on the U.S. during the Trump administration. The related discussions are still at the working group level and have not yet reached the decision-making level of the European Central Bank, involving multiple central banks both within and outside the Eurozone.