Don’t doubt the creativity of central banks

Investors should never doubt the creativity of central banks and the ECB in particular has the potential to further boost its policy arsenal, as required, in the weeks ahead. Despite US congressmen repeatedly stating in 1999/00 stating that Alan Greenspan was the greatest central banker ever, I feel he only resolved the fallout from the bursting of an asset bubble by inflating a new one. Mario Draghi has done something vastly superior - he has held together an 18-member currency union during periods of major stress, managed the oscillated views of Europe, while containing the power of the masses (namely market forces) and encouraging them to accept lower risk premiums despite having less than 1% of the funding of these huddled masses. That is a result that any Emperor would be immensely proud and why I think Mr Draghi is the greatest central banker ever. (VIEW LINK)