Yellen on "Up Escalator" Draghi on "Down Escalator"

Dec 03, 2015, 08:03 PM

The European Central Bank has moved to bolster the eurozone economic recovery by cutting a key interest rate and extending its stimulus programme. Today's news from the ECB suggests that economic policies in Europe and the United States are heading in opposite directions. The US central bank is expected to increase interest rates later this month. We talked to the economist Irwin Stelzer of the Hudson Institute in Washington about what these divergent approaches mean.