The hypocrisy of former ECB president Jean-Claude Trichet is in the spotlight today. Who put the spotlight on Trichet? Ironically, he did himself.
Please consider Trichet warns of "behavioral contagion"
Haruhiko Kuroda showed Wednesday he’s following in the footsteps of Ben Bernanke and Mario Draghi as he swung the Bank of Japan from incremental moves to unprecedented stimulus at the governor’s first policy meeting.
The BOJ will double the monetary base by the end of 2014 through buying government bonds, the central bank said in Tokyo, in Japan’s biggest round of quantitative easing. JPMorgan Chase & Co. said the Japanese and U.S. central banks are now “in the same camp” when it comes to monetary stimulus.
John M. Mason submits: How important is reputation in monetary circles?I believe that the general movement in the value of the Euro relative to the United States dollar over the past seven months or so gives a picture of how the reputation of a central banker, when compared with his peers, can be reflected in financial markets.
European Central Bank President Jean-Claude Trichet has offered support for a US plan to limit the size and scope of large banks but stressed the need for global coordination, a report said Wednesday.Trichet also urged US lawmakers to confirm Ben Bernanke for another term as Federal Reserve chairman, the Wall Street Journal reported.Bank-reform plans outlined by the White House last week "go in the same direction of our own position, namely ensuring that the banking sector focuses on financing the real economy", Trichet told the newspaper.