There could have been a heated discussion, with the doves preventing the acceleration in the pace of rate hikes the hawks may have wanted.
More Quotes from Holger Schmieding:
This has weakened his claim to be the one who could lecture other financial ministers on how to run their economies. He should publicly apologize to the IMF staffers whom he scolded last time for being too pessimistic on the U.K.Holger Schmieding
We think around 4.5 percent is the adequate level for U.S. interest rates -- you could call it a neutral level -- and as there are modest inflation risks in the U.S., we expect the Fed to go slightly beyond that to 4.75.
Holger Schmieding
This is the worst thing we've had from the German economy for some time.
Holger Schmieding
Britain has learned that there is no harm is selling your local champions to foreigners.
Holger Schmieding
Germany is reaping the fruits of wage restraint and painful structural reforms. In addition, the change in government seems to have improved the business climate even if Merkel has so far done hardly anything in terms of serious economic reforms.
Holger Schmieding
The hope that Germany would be a shining European example for accelerated reforms has been dashed,
Holger Schmieding
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If a person wants to be publicly gay, they should not be teaching in the public schools.
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