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They say everything is fine/back to normal. We can clearly see it is not fine/nowhere near normal.
The ECB hiked its interest rate benchmarks today by 50 bps. Markets everywhere basically ignored it. What happened over the past week has already left serious and lasting doubts if not persistent scars. What's priced to come next isn't more rate hikes...from anyone.
Eurodollar University's Money & Macro Analysis
ECB Monetary policy decisions
https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230316~aad5249f30.en.html
Ben Bernanke; Inaugurating A New Blog
https://www.brookings.edu/blog/ben-bernanke/2015/03/30/inaugurating-a-new-blog/
Twitter: https://twitter.com/JeffSnider_AIP…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.