Recently the world’s central bankers gathered in Jackson Hole, Wyoming for their annual meeting. Having experienced the biggest banking crisis in history, there was a sense of relief at having avoided a complete collapse. The talk now was of the dust settling. Ben Bernanke, chairman of the US Federal Reserve, despite saying a month earlier that the outlook was “unusually uncertain”, said he was now “confident”. But such confidence is very much misplaced. With the world economy facing at best a painful recovery, and slow anaemic growth, the world’s bankers are deeply troubled as to what steps to take next.