Dow Plummets 250 Points as Europe Floods Economy with Cheap Loans
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ECB president Mario Draghi doubled down on his economic doomsday mantra, slashing growth forecasts from 1.7 percent to 1.1 percent in 2019.The euro's getting smoked as Draghi is talking https://t.co/tcoiRsqZOf pic.twitter.com/VJKX3PZoVF— Joe Weisenthal (@TheStalwart) March 7, 2019Draghi blamed Trump’s protectionist policies on the slowdown of growth:“The persistence of uncertainties related to geopolitical factors, the threat of protectionism and vulnerabilities in emerging markets appears to be leaving marks on economic sentiment.”More concerning is the Draghi’s commitment to flooding the European economy with cheap money. On Thursday, Draghi pushed back its interest rate program, effectively keeping ultra-low interest rates until the of end the year.The ECB also unveiled a new stimulus package which will give cheap loans to European banks.
As said here by Ben Brown