Trichet Says ECB Is `Optimizing Monetary Policy as Well as Possible'

The transcript discusses concerns about the tools available to face economic downturns and the potential missed opportunity to normalize interest rates. It highlights the optimization of monetary policy in complex circumstances, the global and European economic slowdown, and the limited maneuverability of monetary policy. The Central Bank's strategies, including TLTRO, are considered for recession scenarios. The potential contagion of a US recession to Europe is also discussed, emphasizing the interconnectedness of global economies.

What measures could be taken in Europe to address potential economic downturns?

In what ways could a recession in the US impact the European economy?