Dr. Jürgen Callies

Financial repression – an offer that you can't refuse when the state needs money?

FED: Vibes of the Seventies

Central banks and governments have always had a difficult relationship. The independence of the central bank is not an automatically accepted good, but mostly the effect of bad experiences from phases of high inflation and periods of central banks dependent on periods.

Capital market perspectives: A party cannot last forever if the supports of the ballroom are removed.

The current US administration is tearing down previously supporting pillars of the economic system and prosperity. Stock markets are currently concentrating more on the positive news. However, the current measures create an environment that increases risks for capital markets in the long term.