Dr. Michael Ivanovitch is an independent analyst focusing on world economy, geopolitics and investment strategy. He served as a senior economist at the OECD in Paris, international economist at the Federal Reserve Bank of New York and taught economics at Columbia Business School.
Follow him on Twitter: @msiglobal9
The ECB has driven the euro area economic recovery and job creation to the point where its virtual "helicopter money" may no longer be needed.
While Uncle Sam was dozing on its unique superpower laurels, Japan was busy producing what America wanted to buy.
People who criticize world's major central banks may be doing so for the wrong reason.