Bloomberg writes "Jackson Hole Bubble Clash Shows Challenge for Central Bankers". It says, "Central bankers and economists at a Federal Reserve symposium clashed over how to best contain asset-price bubbles.... The disagreement highlights the challenges Fed Chairman Ben S. Bernanke and other central bankers face as they seek to sustain the global recovery through unprecedented stimulus measures while not encouraging investors to take excessive risks. Kansas City Fed President Thomas Hoenig, the conference's host, has warned this year that the Fed's near-zero rate policy risks creating new, potentially destructive price bubbles." In other news, see The Associated Press's (via The Seattle Times) "Money funds rise, yields are flat" and see Investment News' "Bond stampede turning mutual fund world on its head".
