Financial TimesFinancial Times

‘There is no pre-existing playbook’: policy models get rethink at Jackson Hole

By Colby Smith

27 Aug 2023 · 4 min read

Gathering for their annual meeting in the foothills of the Teton Range in Jackson Hole, Wyoming, leading officials and economists traded last year’s angst about inflation and central banks’ credibility for fears that the upheaval caused by the pandemic and the war in Ukraine have ushered in a new era for the global economy.

During the US Federal Reserve’s three-day symposium, current and former policymakers from around the world voiced worries that the well-established economic relationships that underpinned government authorities’ policy decisions were in jeopardy.

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