The worst crisis in modern financial history is set to culminate in an ideological clash, pitting the Federal Reserve against the European Central Bank in a debate that will shape the global economy for at least the next decade.
The catchphrase that will dominate central bank meetings for the rest of the year is “exit strategies;” now that the markets are showing some semblance of normality, how quickly should they be unhooked from the life-support systems that have transfused the banking system with government funds
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