It is recognized that, on this matter, theoretical research still has much to learn from the practical experience of central banks’ attempts to preserve both price and financial stability at the same time.
*  *  *  My third and final example from the discussions at Jackson Hole has to do with a problem that is quite pertinent at present, that is, what kind of monetary policy should be practised in a situation of ultra-low interest rates. The present situation is unique in history.