August 25, 2021

The American withdrawal coincided with a threat by the Taliban to stop Afghans from traveling to the airport, an ominous sign that the window may be slamming shut for thousands of people desperate to leave.

For now, the fighters have merely two assets: a narrow valley with a history of repelling invaders and the legacy of a storied mujahedeen commander.

Year 1 of the Fed’s framework, unveiled at its Jackson Hole conference in 2020, has included high inflation and job market healing. Now comes the hard part.

Banks are awash in deposits, and their customers are taking out fewer loans. So they have little choice but to buy up government debt, even if it means skimpy profits.

North Dakotans can’t grow enough feed for their cattle, so they’re selling off the animals before they starve.