One might not be sympathetic to the plaintiffs or their politics. In financial matters, the justices seemed out of their depth. They took at face value evidence from the most conservative wing of the German economics profession. But for all that, they gave voice to a real historic bewilderment. What were central banks doing? Did they have a mandate? Weren’t they supposed to be about inflation control? Why were they lowering interest rates to zero to boost inflation? Who paid? Who benefited? Who was overseeing the central bankers?
