Michele: Central Banks Were Concerned About Complacency

The transcript discusses the concerns of central banks about market complacency and the potential impacts of their monetary policies. It highlights the anxiety in capital markets regarding decisions by the Bank of Japan and the Federal Reserve. The discussion also covers the implications of negative interest rates on the financial sector, questioning the long-term effects and the central banks' understanding of these policies.

In what ways might the economic analysis of the last two months be considered ignorant or clueless?

What are the potential consequences of central banks not fully considering the impacts of negative rates?