Melvyn Krauss, Columnist

The ECB Can't Risk a Taper Tantrum

There's still not enough euro inflation to scale back quantitative easing.

October 19, 2016 at 8:36 AM UTC

Melvyn Krauss is a senior fellow at the Hoover Institution at Stanford University and an emeritus professor of economics at New York University.

This can't become a battleground.
Photographer: Ralph Orlowski/Getty Images

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With inflation in the euro zone starting to show signs of life, European Central Bank watchers are beginning to speculate about when quantitative easing might taper off. Germany's Bundesbank, which has been uncomfortable with the bond-buying program from the get-go, is likely to be a leading advocate of scaling back purchases. But there are significant risks to moving too soon.

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