Mario Powers Up
Draghi announced SMP2 at today’s ECB presser. Find the details here. The deal is conditional (‘strict and effective conditionality’), focused
macro, politics, markets, ambivalence
Draghi announced SMP2 at today’s ECB presser. Find the details here. The deal is conditional (‘strict and effective conditionality’), focused
Read John Cochrane’s post on the consequences of quasi-fiscal monetary policy for central bank independence. He nails the ECB’s dilemma:
No one has ever made any money having faith in the ECB – and my skepticism was repaid again last
With the FOMC having shown its hand, focus now turns to the ECB – to see what Mr Draghi meant