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Only Partial Springtime Sentiment Shift, ECB Edition
At last week’s ECB’s press conference, the central bank’s President Mario Draghi was both downbeat and upbeat. As to the former, he acknowledged that Europe’s economy wasn’t working out the way they’d all hoped (and repeatedly promised). Despite the disappointment, Draghi wasn’t completely deterred. This growth scare wasn’t really European, he said. China, trade, and a bunch of other things from outside Europe (offshore?) were to blame. And contained in that view was the good news as Mario Draghi sees it. He responded to one reporter’s question about a possible 2019 recession by reiterating the ... (full story)