Jackson Hole in the wake of policy rules

The Federal Reserve Bank of Kansas City’s annual Jackson Hole Symposium continues to attract the best and brightest central bankers and monetary economists. That a hundred of the best and brightest were caught in a vicious hailstorm on their Friday afternoon collective walk in the woods tells us something about their forecasting ability. That said, their willingness to change course – specifically, to turn back as the weather continued to worsen – tells us something important about the