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March 07, 2011 – Comments (1)

By themselves, these two article leads in today's WSJ "The Morning Brief" e-mail wouldn't be blog worthy.  Together, they look kind of like the keystone cops directing monetary policy.

First, in Trichet Says Central Banks Eyeing Inflation - "BASEL, Switzerland--Central banks across the world are ready to do whatever it takes to avert a sustained increase in inflation expectations, European Central Bank President Jean-Claude Trichet said Monday."

And, a few headlines further down,

Fed Unlikely to Pull Aid Yet - "The Fed wants to see more evidence before seriously considering how and when to pull back the enormous amounts of stimulus pumped into the financial system."

Apparently "whatever it takes" doesn't include the US Fed cutting back on its efforts to juice inflation.  Maybe European and US central bankers should do a better job of coordinating their talking points.

1 Comments – Post Your Own

#1) On March 07, 2011 at 1:36 PM, ikkyu2 (99.15) wrote:

Reminds me of Clausewitz's comment on diplomacy by other means.

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