Talk about tilting at windmills…ECB chief Trichet says he sees risk of a wage/price spiral in the economy. With unemployment rising across most of Europe, I can’t imagine what he’s looking at…
No more stimulus is needed on either the monetary or fiscal side of the equation, he says.
EUR/USD is firming despite very soft US equities, now at 1.3865 amid talk of buying by the BIS.
