One headline from Jackson Hole was that the Fed wasn't taking criticisms seriously
Expect the dissection of the Fed to continue.
Criticisms have never been higher of the Fed's failure to meet its mandate and its wrong-headed methods of picking winners and losers. The calls for change hit an all-time high in the days before Jackson Hall but the commentary from symposium was completely tone deaf.
There were a few token comments to increase diversity but hardly a word on the kinds of radical re-thinks of monetary policy that are gaining traction. Instead, the Fed continues to double down on the models that have steered it wrong for years.
For instance, the WSJ highlights that only once in the past 15 years has the Fed underestimated growth looking once year into the future, and it that case it was only fractionally.
What's even more damning is that the Fed is hinting at a hike. That's the kind of move that is completely unnecessary and could end up with Janet Yellen as a punching bag until the election (and likely afterwards).
