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A comment on Can the West’s perplexing employment miracle continue?. Parent comment

Re:Can the West’s perplexing employment miracle continue? by eftychis on Sunday March 05, 2023 @07:16PM (#35035813)
I trust the ECB to miss their targets. It is part of the job description setup. You are trying to control a chaotic system with one knob and you have to follow a manual that gets rewritten with past learnings:

a) if the issue reoccurs, the learnings are ineffective b) if the issue is new, how can you tell how to move the knob without pissing a lot of people and losing your job.

It is a lose-lose game.

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Re:Can the West’s perplexing employment miracle continue? by drexlspivey on Sunday March 05, 2023 @07:29PM (#35035930)
They have two knobs, setting interest rates and their balance sheet
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Re:Can the West’s perplexing employment miracle continue? by eftychis on Sunday March 05, 2023 @07:34PM (#35035985)
https://www.ecb.europa.eu/pub/pdf/other/art01_eb201504.en.pd

The balance sheet is used to direct effective interest rates intramarket -- not a separate knob.

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Re:Can the West’s perplexing employment miracle continue? by WeylandYutani on Monday March 06, 2023 @07:53AM (#35040384)
The ECB problem is that they have to run a collective of wildly varying economies. What's good for the Netherlands would destroy Italy.

The genius solution that they came up with is transfering billions of taxpayer money from the North to the South- which is not very popular among voters.

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