The ECB's Rise in Rates

The ECB can go bankrupt and the Bank of Japan and the Fed cannot. Europe doesn't have a central governing authority. They've got one central bank, but they've got all these different nationalistic budgets. The only reason that the ECB's been able to raise rates over the last year is that they're driving with one foot on the gas andOne foot on the brake. And it happened the day after Powell raised again, 75 basis points.