Christine Lagarde Inherits ‘Unprecedented’ ECB Split After QE ‘Revolt’

Wish Christine Lagarde luck, she's going to need it, apparently. Mario Draghi did a decent job of c

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2 thoughts on “Christine Lagarde Inherits ‘Unprecedented’ ECB Split After QE ‘Revolt’”

At what point does the burden of proof shift from trying to articulate a counterfactual (hawks) to empirical failure (doves) ? The questions from the press were remarkably skeptical today, keenly focused on the negative effects of these policies, and rightly so as this clearly is not working. It would seem there has been an uptick in published academic research critical of negative interest rates and other hyper-aggressive measures as well. Wholly subjective but it does feel like credibility is slowly slipping away year after year.

I won’t go as far to say that Draghi lied about the existence of a “broad consensus” but he clearly was massaging the truth in regards to APP.