The German Industrial Sector Is in Recession

I don't think that the interest rate differential story, I know you've shown some of those charts in your research, especially the core inflation spread in the US and Eurozone, is supposed to say something about the persistent of interest differential. That's all kind of like the same price in a way, but I do think that the ECB is very close to ending its cycle as well. And one of the most important themes at the moment for European economies is that we have more fiscal stimulus right now than ever before," says Klaus Schwab.