Doubtful ECB Can Prevent Recession – O. Blanchard
Take a few and listen to O., well worth your time.
Olivier Blanchard, the former IMF chief economist and part of our elite “One Smart Dude Club (OSDC)”, speaks on the ECB’s monetary policy and the tools it has available to fight an economic downturn. He essentially concludes Germany, which is reluctant to venture into fiscal stimulus but will be hurt the most by the trade wars, will have to do some backsliding on its frugal ways.
Traders and ‘bots way offsides today, including us (but not short) as we were gone fishing, took a one-two body blow from the Draghi dove and Trump tweet.
It’s all about the Tape Tweet, folks.
Source: https://global-macro-monitor.com/2019/06/18/doubtful-ecb-can-prevent-recession-o-blanchard/
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