▷ Not an easy inheritance | Press portal

11.01.2022 – 17:16

Frankfurter Rundschau

Frankfurter Rundschau (ots)

As the new President of the Deutsche Bundesbank, Joachim Nagel is not taking on an easy legacy. The ultra-conservative stance of his predecessor Jens Weidmann – with a rigid view of inflation – had no chance of finding a majority in the Governing Council, the all-important body for monetary policy. Nevertheless, when he was inaugurated on Tuesday, Nagel immediately went to the falcon camp. They are the advocates of a tight monetary policy. Their basic thesis that the ECB’s zero interest rate policy is also fueling inflation is increasingly gaining ground. On the other hand, the Omikron variant is raging in Europe. There is a risk that if the monetary reins are tightened too quickly, the economy will collapse. It will take a lot of skill over the next few months to find the right balance. Also communicative. Nail is in demand. Part of his job is to make people understand what the ECB is up to.

Press contact:

Frankfurter Rundschau
Politics department
Phone: 069/2199-3222

Original content by: Frankfurter Rundschau, transmitted by news aktuell


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