Scholes on Draghi’s Defense of Quantitative Easing

The transcript discusses the reception of quantitative easing (QE) in Germany, the evolution of monetary policy, and the importance of integrating financial systems with monetary policy. It highlights the impact of QE on economic stability and growth, particularly in Europe, and addresses future economic challenges and tensions. The transcript concludes with a discussion on the experimental nature of quantitative tightening and its implications for balance sheets and interest rates.

How did Mr. Draghi view the effectiveness of the quantitative easing programs implemented after the financial crisis?

What is the current tension in the financial markets as discussed in the speech?