Global central bankers attended their annual Jackson Hole Economic Symposium, hosted by the Federal Reserve Bank of Kansas City in Wyoming, a little more than a week ago. The main act, as usual, featured US Fed chair Jerome Powell. His speech was short, direct and with a narrow focus, lasting less than 10 minutes. 

Precise, narrow speeches are not what the Fed and central bankers are known for, but this time — amid 40-year-high inflation and market doubts that the Fed would continue to hike rates even with an impending economic recession — it needed commitment. ..

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