This year's symposium hosted by the Federal Reserve Bank of Kansas City was emblematic of the diminished power of central bankers around the world. As Chair Jay Powell met with cohorts at Jackson Hole, his boss, who may or may not have the power to fire him, called Powell an enemy of the people, along with President Xi Jinping. It is hard to imagine a greater party dampener. Attendance was down as well. For a balanced look at why central banking is in decline, Adair Turner's
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