ECB vs. Markets: How Miscalculations Made Losers of Both.

The author discusses his thoughts on the monetary policy-easing, economic stimulus measures announced by central bank the European Central Bank (ECB) president Mario Draghi on December 3, 2015, and the disappointment of investors in the policies as evidenced by declines in stock markets. The author argues that investors placed too much faith in central banks and that the ECB failed in communicating to markets prior to the December 3, 2015, announcement.