The market will likely be a bit disappointed by whatever economic stimulus European Central Bank President Mario Draghi announces Thursday, noted investor Dennis Gartman told CNBC on Wednesday.
The ECB is expected to start a quantitative easing program it hopes will provide a boost to the European economy.
“We’re going to end up seeing that Mr. Draghi will not be able to do what the market really wants him to do. He needs to get the balance sheet of the ECB back to $3 trillion, where it was several years ago. The problem that he has is that he doesn’t have the ammunition or he doesn’t have the capability to get it there,” the editor and publisher of The Gartman Letter said in an interview with “Closing Bell.”