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Ben Bernanke, who led the Federal Reserve during the global financial crisis, observed that the art of setting monetary policy was 98% talk and 2% action.

A significant rebalancing of that equation would be welcome after communications upheavals this week roiled markets and seemed to reveal a high degree of anxiety among central bankers. While Fed Chair Jerome Powell pledged to conquer inflation, and effectively conceded a recession may be the price for doing so, the process of getting to that point was messy.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
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