The MacroTourist

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LAGARDE COMES OUT FIGHTING

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LAGARDE COMES OUT FIGHTING

The hawkish ECB shift is enough for the 'tourist to throw in the towel

Kevin Muir
Dec 16, 2022
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LAGARDE COMES OUT FIGHTING

posts.themacrotourist.com

This morning, I thought I would write another piece about how the market was mis-interpreting Powell’s comments as too hawkish. But then, ECB President Madame Lagarde made any debate about the FOMC moot.

The ECB raised rates by 50 basis points - that part was expected. But, the market was not prepared for the other parts of Lagarde’s press conference.

Lag…

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