Two weaknesses in the United States not found in the euro zone

We have to bear in mind that the United States has two financial weaknesses that the euro zone does not have: Very significant equity wealth effects in the United States, and weak effects in the euro zone; The loss of liquidity and the seizing up of the credit (corporate bond) market is serious in the United States , where companies raise financing in the bond market, while in the euro zone they mainly rais e financing through bank loans. These two specific weaknesses in the United States may explain why the Federal Reserve, unlike the ECB, cannot ignore trends in equity and credit markets.