Heard on the Street: Arcane details of market plumbing may end up becoming a key concern of the new head of the European Central Bank
When U.S. money markets seized up in September, it was only a minor headache for Federal Reserve Chairman Jerome Powell. Over at the European Central Bank, arcane details of market plumbing may end up becoming a key concern of new boss Christine Lagarde’s mandate.
Ms. Lagarde, who will hold her first rate-setting meeting as head of the ECB on Thursday, has promised an in-depth review of the central bank’s policies. Her predecessor Mario Draghi pushed the ECB’s stimulus toolkit to the limit during his eight years in office,...
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