By Desmond Lachman in Washington
Something is going very wrong with the US administration’s effort to reduce the US trade deficit. It has been increasing steadily. It now stands at its highest level in the past 10 years and shows every sign of rising. There are at least three reasons why the US trade deficit is widening and will continue to do so despite increased import protection. One must hope that Washington takes a time out from increased trade protection and tries to determine the real causes of the country’s poor trade performance.
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Marcin Stepan, deputy head of meetings at OMFIF, is joined by Francesco Papadia, fellow at Bruegel and former director general for market operations at the European Central Bank and Alexander Petrov, assistant vice-president, policy and research, Official Institutions Group, State Street Global Advisors. They discuss the December 2018 ECB monetary policy meeting as the central bank plans to formally end QE, outline the new reinvestment strategy, provide growth assessments and forecasts on inflation.
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