Tomas Hirst on the State of ECB Policy and the Eurozone Economy
Macro Musings with David Beckworth
00:00
Is the ECB Trying to Control the Fed's FX Rate?
The Fed sets policy for the US but unfortunately affects the rest of the world. The ECB effectively, they're setting this rate that has different repercussions in different parts of the Euro zone. It's a very good way of soaking up whatever excess savings might have been left. But it does seem to me that if that is the sole rationale, it's a very weak one to benchmark against on a sort of ongoing basis.
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