Analysis: World will never be the same for central banks

08/31/2009 | Economist (free content), The

The mood of quiet relief that surrounded a gathering of central bankers in Jackson Hole, Wyo., suggested that they have not truly grasped how much their place in the world was changed by the financial crisis. The job of a central bank used to be simple and straightforward: Maintain a low and stable rate of inflation. Whether they know it, central bankers today are expected to safeguard the entire financial system.

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Economist (free content), The

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