Plosser Says Yellen Missed an Opportunity at Jackson Hole

The transcript discusses the Federal Reserve's role in addressing asset valuations and interest rates, analyzing Janet Yellen's speech and its lack of groundbreaking insights. It highlights the ongoing debate within the Fed about financial stability's impact on monetary policy and the public's high expectations. The discussion also touches on central bankers' fear of market reactions, which affects their decision-making processes.

How does financial stability interact with monetary policy according to the text?

What are the concerns regarding asset valuations that the Fed should address?

What opportunity did Janet Yellen miss in her speech?

Why are central bankers around the world fearful of financial markets?

What is the impact of the Fed's fear on their decision-making process?