The Next Big Central Bank Decision of the Week

Mario Draghi was the past master at having people in markets look into his eyes and just have them push the market in the direction that he wanted it to go. So there's going to be a certain element of that whereby the policymakers at the Fed and elsewhere just kind of try and hypnotize the market into not getting too carried away. We don't want like a massive runaway rally in stocks, for example, on the back of the Fed decision. The ECB is a little bit earlier in the cycle than the Fed is. And maybe you're just now starting to see some of those lagged effects of monetary policy starting to bite.