The Ledger.

Latest edition 13 September 2026

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Central Banks

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Two folded arrows point in opposing directions across an empty conference table, with mountains behind it.

From the archive · Central Banks

A Fed at war with itself heads for Jackson Hole

Three dissents at the last meeting, governors openly split, a chair who won't show his hand, and a president demanding cuts while part of the committee argues for a hike. The minutes on Wednesday and the Jackson Hole symposium later this month will show which faction is winning.

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