Lagarde starred in the role as the slightly more tanned Grinch as central banks decided to ruin Christmas. Structural liquidity doesn’t look too bad and 2023 is not necessarily the year of the bear.
Andreas, at your live-event at Bremen Teater Feb 8 2023, is the content specifically targeted for Danish readers, and if not, are there any plans to make it available for the rest of us? Although now that I think about it, I guess there's a good chance y'all won't be speaking English at the event!
I’ve been around since before the euro existed and have so the reaction to every meeting. In the beginning there was a great deal of deference to the bundesbank so Duisenberg and Trichet both adhered to the tight money rubric. But once Draghi showed up, the attitude changed and it’s been an easy money bias since. With that said, other than Draghi’s whatever it takes comments, this was the most impactful ECB action in history. And I think only a confirmed dove like Lagarde could get away with it now. If the ECB president was a hawk and said that stuff there would be riots in the streets. Kind of a Nixon to China moment I would say
Excellent update. Thanks!
Turns out the Grinch was actually Kuroda!
Andreas, at your live-event at Bremen Teater Feb 8 2023, is the content specifically targeted for Danish readers, and if not, are there any plans to make it available for the rest of us? Although now that I think about it, I guess there's a good chance y'all won't be speaking English at the event!
I’ve been around since before the euro existed and have so the reaction to every meeting. In the beginning there was a great deal of deference to the bundesbank so Duisenberg and Trichet both adhered to the tight money rubric. But once Draghi showed up, the attitude changed and it’s been an easy money bias since. With that said, other than Draghi’s whatever it takes comments, this was the most impactful ECB action in history. And I think only a confirmed dove like Lagarde could get away with it now. If the ECB president was a hawk and said that stuff there would be riots in the streets. Kind of a Nixon to China moment I would say