Ivan Sramko to Join European Central Bank and How this Impacts US

When Slovakia becomes the newest entrant into the Euro-zone, Ivan Sramko, the countries central banker will join the ECB. Mr Sramko is an inflation hawk and will add his voice to a policy that already favors raising rates.

The European Central Bank has already shown a bias towards fighting inflation by raising rates a quarter of a point last week and the addition of another hawkish member will only solidify that stance.

As Europe raises rates, it puts more pressure on the US dollar, which in turn helps fuel inflation. This puts additional pressure on the US to either keep steady or raise US interests rates.

While the ECB is raising rates, the UK appears to be at risk of falling into a recession according to the BBC.