Trump has never hesitated to criticize Fed chair Jerome Powell. Now it is ECB President Mario Draghi’s turn.
President Donald Trump has never hesitated to criticize the U.S. Federal Reserve and the chairman he appointed, Jerome Powell, for, in Trump’s view, tightening too aggressively. Now, European Central Bank President Mario Draghi’s is on Trump’s bad side for hinting at rate cuts.
— Frederik Ducrozet June 18, 2019 Draghi, speaking at a central-banking forum in Portugal, sent the euro EURUSD, -0.1694% tumbling early Tuesday and gave global equity markets a lift after making clear that the ECB was prepared to cut interest rates and could restart the bond buying program at the heart of its quantitative easing effort if needed to support the eurozone economy.
Stocks were lifted, with the pan-European Stoxx 600 Europe index SXXP, +1.67% up 1.7%, while the S&P 500 SPX, +1.03% rose 1.3% and the Dow Jones Industrial Average DJIA, +1.26% advanced more than 300 points, or 1.2%.
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