Federal Reserve chairs usually approach the annual confab of central bankers at Jackson Hole, Wyoming, in one of two ways. Either fly under the radar screens of markets, or some eye-grabbing policy announcement.

It would not surprise me if Jay Powell, in his keynote speech this week, opts for the former at this year’s virtual event. Some might even see this as a more risk-averse option. That would be unfortunate. The wellbeing of the economy, the Fed and financial markets call for Powell to take the latter route. It is also the less risky option.

Financial Times