Jean-Claude Trichet

According to a Bloomberg headline ...

Policy Coordination Among Central Banks

I am pleased to be here in Frankfurt today to celebrate the 10th anniversary of the euro. The euro’s introduction was a remarkable achievement. As an academic, I did a bit of consulting for the European Monetary Institute, the European Central Bank’s (ECB) predecessor, on monetary transmission mechanisms; I thus played a part, albeit an extremely small one, in this grand project. I mention this only as a reminder that the creators of the euro drew on monetary expertise from around the world, an early example of the international cooperation that has since proven to be one of the hallmarks of the ECB. Indeed, the run-up to the euro’s establishment and the experience of the past decade have been associated with an unprecedented degree of policy coordination among the sovereign states within the euro area, including cooperation in the areas of fiscal and regulatory ...

Trichet says ECB ...

Sell What You Can...

Here's a link to listen to an Audio Version of the report:

Central Bankers around the globe mounted their white horses yesterday and attempted to ride to the rescue of the financial markets with an impressive display of coordinated rate cuts. Since this was one of the things we said we were looking for in this weekend’s big-picture missive, we will have to give credit to the Fed and their cohorts across the pond for doing just about everything they can to try and stop the bleeding in the markets.

While the point of yesterday’s surprise move may have been lost on the average investor, it should be noted that the goal of Mr. Bernanke and Co’s latest effort was to encourage banks to lend again. And what better way to do that than to wave a fistful of dollars – this time in the form ...

Trichet Says ...