What Could Be Worse Than The Federal Reserve?

The European Central Bank

The only thing that could possibly be worse than the U.S. Central Bank is the European Central Bank.

And the European Central Bank president is making an excellent case for that:

Lagarde says inflation crisis came from ‘nowhere’, describes Putin as ‘a terrifying man’

HE INFLATION CRISIS has come from “pretty much nowhere” according to the European Central Bank president Christine Lagarde, while describing Russia’s Vladimir Putin as a “terrifying man”.

[…]

Lagarde told host Ryan Tubridy that the combination of a “very speedy recovery” from the pandemic and “the energy crisis caused by Mr Putin” had plunged Europe into the current crisis. 

She added that it [inflation] had come “pretty much from nowhere”.

[…]

When asked if she thinks of ordinary citizens impacted by the bank’s measures, she said she thinks “first and foremost” of them: “And inflation is just terrible for all of us, but it’s particularly bad for those who have low incomes because they get hit for us and those who have high incomes.”

Reality is stranger than fiction.

The “president” (an unaccountable, unelected bureaucrat appointed by other EU bureaucrats) of the central bank thinks inflation came out of nowhere. She also views inflation as particularly bad for those who have high incomes and thinks Putin is “terrifying”.

I know our central bank is a malevolent joke, but the ECB makes ours look tolerable. Which is a mind-boggling feat.

Perhaps most hilarious is that she thinks inflation came out of nowhere but then also thinks the current crisis is because of Putin and “too speedy of a recovery”.

If this is a “recovery”, I desperately no longer want to recover.

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