Pressure on the Fed Meets Economic Softness

We start with the future of monetary policy in the US as central bankers head back to Jackson Hole, Wyoming, with a new framework on the agenda. Our special contributor Larry Summers takes us through what he'd like to see. -I'm not sure that it's the right time for a big, new framework when you have an outgoing chairman.I would have thought that a new chairman should be providing a new framework when the new chairman arrives, after the new chairman has consulted. So this seems rather odd timing for a major ...