Jean-Claude Trichet: A new banking supervision programme for Egypt Introductory statement by Mr Jean-Claude Trichet, President of the European Central Bank, at the press conference on the occasion of the signing a Memorandum of Understanding with the Central Bank of Egypt on a new banking supervision programme, Cairo, 26 November 2008.
Nothing is necessarily wrong with these developments; in fact, they are by-and-large the intended and logical consequences of the Federal Reserve’s efforts to reduce economic slack through low interest rates.