With the FOMC meeting Wednesday and Thursday, European leaders parsing the details of new rescue packages, and Moody's threatening to downgrade the U.S.' credit rating, AEI economists offer their thoughts on the difficult choices facing policy makers. John Makin: Fed and ECB overreach means inflation will rise Fed Chairman Ben Bernanke said at Jackson Hole that if the economic data don't improve, the Fed would take additional steps to boost the economy. He indicated particular concern about the labor market. The employment report for September fulfilled the Bernanke criterion for taking those "additional ... (full story)