Jens van 't Klooster on Recent ECB Policy: A Paradigm Shift Without Legislative Change
Macro Musings with David Beckworth
00:00
The European Central Bank's Market Based Approach to Government Debt
i agree that if you look at the counter factualf they hadn't stepped in, exactly a far worse outcome. I think in europe, though, you can make the case much easier that you over there. The e c b is still experiencing again the spatif supply shocks. And i think what's unfortunate is that that demand shock is going to get all the attention. It will overlook the supply shock part of the story. So people will say, we can't afford to have this excess accurate demand problem in future. But you're right. Even inflation in the us, some part of tat is still tied to supply side issues, not just demand issues.
Play episode from 41:46
Transcript
