The Specter Of 'Rehnfeld' Falls Across The ECB's Monetary Policy Transfer Mechanism

(Source: Author)

The current debate, whether the current Eurozone slowdown is in a recession or not, is abstract and also misses the point. What needs to be debated is the kind of policy response required in the worst case scenario that it is a recession. Simply talking about the expected economic rebound is similarly pointless, in an environment in which any recovery would simply cause the global central banks to hit the brakes again with further monetary policy normalization.

Original source

Add comment

Please Sign in to be able to leave comments.