The Economist: “The Fed's have-it-both-ways policy”

R.A., regarding Bernanke’s Jackson Hole speech, your column notes that you “found the tone on monetary policy to be confusing and timid.” Expectations now turn to what President Obama will say next week and what the Fed will do (or not do) when they next meet. Uncertainty again prevails.

Alexander Mirtchev

Euro-Zone Consumer Mood Continues to Lighten

Consumers in the 17 countries that share the euro continued to become less pessimistic in September, but with unemployment still close to record highs and wages growing more slowly than inflation, that is unlikely to herald a sharp pickup in spending.