The uneven global recovery has central bankers stumped

Central bankers gathering in Jackson Hole are faced with a disappointing performance from the global economy, making it more difficult to turn off the money tap. Where can they go from here?

Central bankers gathering in Jackson Hole this week confront a global economy that has once again disappointed, leaving them reluctant in some places and unable in others to turn off spigots of easy money employed since 2008 to boost growth.

Federal Reserve officials -- puzzled by the combination of erratic US economic growth and robust hiring -- are waiting for more evidence that strong job gains can continue before they start raising short-term interest rates.

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