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ECB Expands QE By €120 Billion, Announces New Liquidity Measures, Relaxes Capital Ratios, Leaves Rates Unchanged
Earlier this week, Christine Lagarde warned that without a coordinated global policy response, the w
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Cue the Biden Plunge Protectors…
I know there were some complaints about a few things she said. For me, watching her press conference was calming. It felt like there was an adult in the room.
Lagarde is an adult and sounds like one as well. Regardless, she made a major mistake in her attempt to calm markets with her announcement. Her dismissal of the problem of rapidly expanding credit spreads showed her to be tone deaf to a major concern.
One would hope for a rapid reassessment on that point by the ECB.