31 August 2016 at 0:47 GMT
Larry Summers is right; this year's Fed symposium in Jackson Hole was triply disappointing. In the weeks before the gathering, members of the Federal Open Market Committee publicly discussed their worries that the current monetary framework might leave the Fed unable to deal adequately with future slowdowns. They got our hopes up: enough that we published a leader giving the Fed some suggestions for new approaches. But as Mr Summers says, the Fed let us all down.
Read full article at The Economist