European Central Bank President Mario Draghi gave the markets another example of his extraordinary ability Thursday with, according to TheStreet's Jim Cramer, a deftly-handled announcement of the tapering of the Bank's quantitative easing program. The hawkish headlines of a halving of the pace of government bond purchases, to €30 billion a month, were expertly offset by a series of dovish commitments that pushed the euro to a near three-week low against the U.S. dollar and lower government borrowing costs in Italy and around the currency area.
Watch More with TheStreet:
- Jim Cramer Reveals What to Watch in Alphabet's Earnings
- Apple's Former CEO Perfectly Explains Why Tech Giant Can't be a True Innovator
- America's Love for Pumpkins by the Numbers: Video
- What You're Seeing With Cord-Cutting Is Just the Tip of the Iceberg: Akamai CEO