In this latest issue of my weekly podcast, we discuss the Fed's annual retreat at Jackson Hole. Beamed in virtually to the retreat, Jerome Powell formally announced that the Fed is changing its policy of pre-emptively raising rates to avert future inflation. The Fed will wait until inflation is modestly or well above +2% before they raise them. Those who attended also heard from eminent economists who presented historical evidence linking epidemics and economic depressions (even brief ones) t...