- Economically we are in a good place
- We have had slightly higher growth and inflation than forecast
- Frontloading of tariffs is still unwinding
- Consumers are still very cautious in Europe; hard to understand why
- Market valuations are stretched
- I am a bit concerned that retail participation in stock markets is growing faster than hedge funds
There is nothing new here from Vujcic as he just repeats what many other ECB members have already said over and over again: monetary policy is in a good place.
