The E C B and the Urazone Union - What Is the E C B Doing?

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There's an apparent contradiction in what the e c b is trying to do. The incomplete nature of the urazone union means it can't raise interest rates with a single minded focus. It has to always have one eye on the risk of fragmentation in eura's on bond markets. So at the same time that it's raising interest rates and stopping most of its bond purchases, it needs to think about re launching another bond purchasing scheme.

The Federal Reserve raised its benchmark policy rate by 0.75 percentage points for the first time since November 1994, and the European Central Bank says it will speed up work on a new policy tool to counter surging borrowing costs. Plus, billionaire investor Ray Dalio talks about the connections he's found between the rise and fall of markets and the rise and fall of nations.

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