There are moments in time when significant economic shifts occur that alter the future. One such moment occurred in late August 2019 at the close of the Jackson Hole Economic Symposium. This is an annual and exclusive central banking conference to foster open discussion about important and current policy matters.

Bank of England Governor, and former Bank of Canada Governor, Mark Carney noted at the close of the conference that the world’s Central Banks were resolved to do whatever it took to keep banks solvent and liquid. Shortly thereafter, in September, the global credit system experienced a problem that could have led to a repeat of the 2008 credit crisis.