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Two economists (and a lawyer)

| Posted by: Paul Donovan | Tags: Paul Donovan

  • Much excitement as one highly respected economist sits down to interview another highly respected economist. Former Fed Chair Bernanke will be talking with former Fed Chair Yellen on economics and policy. What they say when unconstrained by politics will be market relevant.
  • It is presumably a coincidence that current Fed Chair Powell, who is not a highly respected economist, is testifying to Congress today. Powell has not actually chaired an FOMC meeting yet, so presumably the remarks will reflect known policy positions.
  • The Germans are due to release consumer price inflation, which is not expected to do very much. Bundesbank President and ECB member Weidmann is to present the Bundesbank's annual report. This is an opportunity to signal disagreement with the ever dovish Draghi of the ECB. It is quite hard to justify the ongoing emergency ECB policy when there is clearly no economic emergency in the Eurozone.
  • The EU is doing what it does best and leaking details of an unpublished document, namely a proposed divorce agreement with the UK. The UK opposition leader has suggested a customs union with the EU would be great – and then set out conditions that make a customs union with the EU quite unlikely.