Eric Chaney
Eric Chaney
backed credit data leading loans private
The leading indicators are rising. This is backed by credit data which show acceleration of loans to the private sector.
confident driving excess forces pace rates recovery remove stimulus thinks three time
The ECB is confident about the pace of the recovery and the forces driving the recovery and thinks it is time to remove the excess stimulus put in three years ago. Rates are still accommodative.
companies difficult excessive expense labor market permanent preference protection strong workers
Laying-off permanent workers is so difficult and costly that companies have a strong preference for temp jobs, even if it is at the expense of productivity. When labor protection has become excessive and unaffordable, as it is in France, labor market institutions must be reformed.