anti-mini cheddar. They don't get cheddar than this.

Mmm! Could be the greatest cheese-knock ever!

They might well-breed. I just wish I had my own packet.

No chance. You're better by your own.

Well, that's mature.

Add some cheese to the moment, with mini-chedders baked with real cheese.

This is CBS, I'm the world with my colleague Joseph Sternberg,

member of the editorial board of the Wall Street Journal. He writes the political economics column.

He's in London, observing as we all are, Jackson Hole Wyoming.

The report is about 120 people come together and make speeches on

topics that are vaguely strange.

Structural shifts in the global economy is this year's theme.

Now what we're looking for, the 24th, 25th and 26th of August,

is a clue as to what the Federal Reserve believes the economy is doing now after 11 hikes.

And Joe, one of the joys of the Federal Reserve is to imagine what they see that we can.

At this meeting, can they see anything we can? Are the numbers that they're dealing with the same ones we're looking because it's totally confusing?

I'm not sure that they know anything that we don't about what's happening on the economy.

And there might be some important respects in which they know less on because I think that really,

one thing that I'm expecting to, we will have on display this conference, although no one is quite going to say it openly,

is that we're at a period where there is a lot of confusion among economists and central bank policy makers.

About what is happening in the economy right now, they don't have a good understanding of what has caused the inflation that we've experienced a few over the past couple of years.

Their models don't really give them good guidance about why that inflation seems to be moderating right now, even without a huge uptick and unemployment.

...