Curiously short on star power, the Jackson Hole gathering this year has already taken an odd turn. It’s been practically subversive. Usually when the Kansas City Fed gets together for these things each and every August, the main attraction is the top central bankers in the major economies. Outside of the Bank of England’s Mark [...]
Maybe central bankers are just tired of being alone. In December 2008, for example, the FOMC members were practically celebrating how the NBER finally called recession an entire year after its start. Misery does love company, especially when you botch things that badly. On Tuesday, KC Fed President Esther George admitted she and her fellow [...]
And we come full circle back again. It’s not what they say, it’s what they do. Kansas City Fed CEO Esther George was at least consistent, unlike all the other voting FOMC members. Throughout 2015 and 2016, the rest of them would say the economy was strong but then vote the other way, no “rate [...]
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