One can only guess what the German economics minister had to drink with lunch, but clearly it had an intoxicating effect.
Regarding the Fed, he said
“It is a regular procedure of central banks,” to intervene in currency markets, Bruederle said. “It is not a secret,” that central banks have a foreign exchange rate target, he added.
For some central banks, sure. For the Fed, they avoid the markets like the plague, intervening very rarely. When they do, it is big news, and they do it aggressively to send a very clear message. Thus far, the Fed has not touched the markets in this cycle…
