European Central Bank Pumps Massive Amount of Money Into Economy

Yesterday the European Central Bank poured a colossal amount of money into the European economy. They poured in €442.2 billion or $614.8 billion; that makes it the largest single amount the ECB (European Central Bank) has done in its history. This could spur high inflation in Europe if the ECB does not act quickly enough to mop up the excess liquidity when the economy picks up again. Mopping up the excess liquidity may kill an economic recovery in the future. The ECB may one day have to chose to raise interest rates and kill an economic recovery or live with high rates of inflation. Either way it is not a fun time to be a central banker in the United States or Europe.

Read about it here. It is perhaps the biggest story today. It may also be one of the reasons why the Dow Jones average was up 172 points today.