Draghi Sharpens “Three Arrows” for Europe

When the European Central Bank’s Governing Council convenes tomorrow in Frankfurt, there will be plenty of talk about Mario Draghi’s recent speech at Jackson Hole. Not only did this open the door to a large-scale quantitative easing (QE) programme, it may in time be seen as a pivotal moment in the evolution of the euro area’s policy framework as it attempts [...]

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Don’t Paint Yourself into a Corner with Overly Defensive Strategies

Popular strategies for hedging against deflation and hyperinflation are likely to be disastrous if the economic outlook grows more benign as we expect.

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