Bundesbank President Out

Jens Weidmann—who has been a critic of ultra-easy monetary policies in Europe—is out as the President of Germany’s central bank. Weidmann plans to step down on December 31st with another 5 years left on his current term at Bundesbank. European banking luminaries chimed in, praising Weidmann for his leadership. IFO President Clement Fuest said, “Jens Weidmann has earned a high reputation as Bundesbank President thanks to his expertise in economic questions beyond monetary policy and as an important voice for stability-oriented monetary and fiscal policy.”