ECB chief Mario Draghi gave a big speech at Jackson Hole on Friday. There were two big ideas to come out of the speech: The first is that the ECB will do more to halt falling inflation. The other is that the ECB probably can’t do it on its own, and that the destructive effects of austerity need to be reversed somehow. Markets are higher on Draghi’s promise to do more. But most people might have missed one of Draghi’s most crucial statements, because it wasn’t originally in the prepared remarks. It was delivered off the cuff. In a note …read more
Source: Business Insider