What’s at stake: this year’s edition of the Jackson Hole symposium was awaited as an occasion to discuss how to redesign monetary policy for the future. We documented the state of academic and policymaking discussion on the topic in a previous review. 

Hoover Institution fellow John Taylor discusses the August jobs report miss and what it may mean to the Federal Reserve's potential rate hike. Taylor believes the Fed can benefit from a gradual normalization.

Bond investor Bill Gross loves to criticize central banks. The general gist, expressed many times by the Janus Capital money manager in recent years (see: here, here, here, here, here, etc.), is that central banks are reaching the limits of their effectiveness by keeping short-term interest rates near zero or in negative territory.

On Friday Federal Reserve Chair Janet Yellen presented the opening remarks for the Kansas City Fed’s prestigious annual conference in Jackson Hole, Wyoming. She took the opportunity to outline what she sees as a strengthening argument in favor of tightening monetary policy.