Central Banks: Heads Up & Heading Down
#Politics#Trump#Central Banks#Recession#Harris#US Fed#Draghi#Populism#ECB
IN the short term the Fed and the ECB will cut policy rates by 25 bp - no jumbo cuts, Over the easing cycle the ECB will have to cut policy rates more and for longer than the Fed. The EU is entering a period of secular economic decay. The Draghi report speaks not just to the US - EU productivity gap but the chasm between what needs to be done and what will be done, Bad news for Euro and EU asset prices.