ML-Implode News - Germany's SchÃ¤uble: Time Is Near to End Central Banks' Easy-Money Policies

German Finance Minister Wolfgang SchÃ¤uble called on governments in Europe and the U.S. to encourage their central banks to gradually exit easy-money policies, in the strongest sign yet of Berlin's growing impatience with the ultralow interest rates of the European Central Bank.
"There is a growing understanding that excessive liquidity has become more a cause than a solution to the problem," Mr. SchÃ¤uble said, comparing the move away from easy-money policies to ending a drug addiction.
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While Mr. SchÃ¤uble's opposition to the ECB's monetary policy is well known, the veteran politician has voiced his criticism more openly lately, suggesting Berlin is growing impatient amid a mounting popular backlash against a policy that has depleted the returns on the savings of millions of Germans.
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"I just said to Jack Lew that you should encourage the Federal Reserve and we should encourage the European Central Bank and the Bank of England in a concerted action, to carefully but slowly exit," Mr. SchÃ¤uble said. In the U.S., the Treasury secretary doesn't have authority over the Federal Reserve, which is tasked with setting monetary policy.

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Germany's SchÃ¤uble: Time Is Near to End Central Banks' Easy-Money Policies