Lagarde Asks ECB Officials To Wait Before Criticizing Policy
Christine Lagarde politely (or perhaps no-so-politely) asked her colleagues at the ECB to wait a few days before complaining following policy meetings. She's also concerned about leaks, according to Reuters.
The irony is too much to bear. Reuters is often the go-to venue for ECB "sources" stories. On Friday, they were the source of a story about Lagarde's efforts to prevent such stories from finding their way into the media.
The ECB, like it peers across developed economies, is struggling to f
Apparently, Powell this week was not able to convince Lagarde of the benefits of central bankers actually doing very little, but talking quite a lot. Perhaps this will come to be known as the “Powell Pivot” — in which jawboning is not a policy per se, but may be suitable stand-in of last resort when you don’t actually have a policy.