Measured by asset purchases, the Fed can appear more activist than the ECB. But if you account for TLTRO lending

Measured by asset purchases, the Fed can appear more activist than the ECB. But if you account for TLTRO lending to banks, data by @fwred cited by @TheEconomist
Show that ECB has in fact provided slightly larger stimulus. economist.com/finance-and-ec… https://t.co/Q1hLr04nXz

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