The paper that was really important at the Jackson Hole meeting was Raghuram Raj

The paper that was really important at the Jackson Hole meeting was Raghuram Rajan, who served as a professor at the University of Chicago and president of the Central Bank of India, who wrote in 2005 "Has Financial Development Made the World Riskier?" At the time, he was serving as the chief economist at the IMF, which warned that the excessive risk-seeking in the financial sector and the spread of complex financial products were making the global financial system very unstable. In particular, he argued that complex financial products, such as credit derivatives, could greatly increase the risk of the financial system, which could lead to a systemic crisis.

At the time, all financiers and scholars ignored his claim and criticized him as a "nonsense person." Even Alan Greenspan dismissed Rajan's warning as a "fundamentally incorrect diagnosis." But he was right. Didn't we see the subprime crisis and the Lehman crisis in 2008?.... At the Jackson Hole meeting, we pay attention only to the words of the Fed chairman, but at the symposium, our original purpose, we have a paper with excellent insights. I wonder who this year's star businessman will be...