central banks satisfied

The position of the ECB on TLTROs III could be less generous than expected

Central Banks Hide Their Incompetence

This was heard at Jackson Hole: “The cyclical recovery was gathering both pace and geographical breadth, thanks in part to the stimulus efforts of central bankers, the European Central Bank president said, adding that even if inflation remained low, the euro area economy was “gaining ground”. The Fed and the ECB feel they have done all they could. What a cop-out!