The ECB Continues to Ruin Europe

While the GOP thinks the Fed has terribly mismanaged monetary policy in recent years, it might have a soft spot for the European Central Bank. Republicans, including Paul Ryan and Kevin Brady, have in the past advocated changing the Fed’s dual jobs-inflation mandate to a sole focus on inflation. Unlike the Fed, the ECB just has a mandate to maintain price stability. Also unlike the Fed, the ECB hasn’t engaged in massive bond-buys to boost demand.