Business Maverick: ECB’s Lagarde Says Euro Area Isn’t Currently in a Recession

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Business Maverick: ECB’s Lagarde Says Euro Area Isn’t Currently in a Recession
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European Central Bank President Christine Lagarde said the euro-area economy is still growing even as concerns over the outlook continue to mount in the face of surging energy costs.

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“Europe is not in recession,” Lagarde said Wednesday at an event in Washington, adding that “we never had such a positive employment situation.”

Lagarde also said that wages — which are closely watched by central bankers — have so far avoided staging so-called second round effects that would threaten entrench elevated inflation for longer.

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