German cabinet approves Joachim Nagel as new Bundesbank President

  • Nagel will replace Weidmann

It's time to retire this meme. Jens, it was swell. Looks like you got the last laugh.

Weidmann meme

Here's a picture of Nagel riding on a train alone:

Joachim Nagel
Joachim Nagel

The early take is that he's cut from the same moderately-hawkish cloth as Weidmann. What's new is that there's suddenly an audience for hawks.

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