Kommentar: Die Inflation entlarvt Europas große Schwäche
Der Anstieg der Teuerung ist, anders als in den USA, kein Ausdruck wirtschaftlicher Stärke. Die EZB wirkt entschlossen, wird aber vor allem von äußeren Faktoren getrieben.
The European Central Bank (ECB) and the Federal Reserve (Fed) approach monetary policy in fundamentally different ways, despite both claiming to surprise markets rather than giving them long notice. While Christine Lagarde's ECB is highly predictable, Kevin Warsh's Fed operates in a completely opposite fashion. In Lagarde's world, markets anticipate weeks in advance that the ECB will raise interest rates the following week, a fact confirmed by ECB Director Isabel Schnabel and several Euro central bankers.
Lagarde herself is unlikely to contradict this consensus, as she takes an agnostic stance on monetary policy and keeps her views on the subject to herself. In contrast, the Fed, led by Kevin Warsh, aims to create maximum confusion in the markets. It remains uncertain whether the Fed will raise interest rates in mid-September, six days after the ECB, due to Warsh's unexpected clarity on inflation concerns following his Jackson Hole address.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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