Hello and welcome to Business Daily from the BBC. I'm Andrew Walker. Coming up, reaping what a decade of money printing has sowed. We'll be talking to economist Pippa Moundgren about the forthcoming meeting of central bankers in Jackson Hole.

Whatever the old all-time record high was, the new one

is $18 trillion more than it was before, because that money has to go somewhere. If you give the

market free money, $18 trillion worth of free money, you can't be surprised that they throw it

around. And the BBC's Joe Miller has been finding out how Frankfurt might cope with a sudden influx of bankers.

They're looking around, testing the market.

We have, I would say, more than 10, 11 clients currently coming to Frankfurt.

But honestly, the people are coming, visiting, looking around, but not making any decisions.

That's all in Business Daily from the BBC.

It's August, which means it's summer holiday time for many people in the Northern

Hemisphere, even central bankers. They're gathering for their annual retreat in the American

mountains at Jackson Hole, Wyoming. There'll be some hiking, but no real escape

from the challenges of monetary policy. One big issue, the return to something like normal

after the extraordinary policies in response to the financial crisis. The US Federal Reserve

has made a start, raising interest rates from their ultra-glow levels post-crisis. But central banks in the Eurozone, Japan and the UK, have much further to go.

I've been discussing these issues with Pippa Malgren, who was an economic advisor to President

George W. Bush and now to the British government.

I asked her what she thinks is the biggest problem policymakers face.

Big is a small word for the magnitude of problem that they face.

Think of it this way.

Central banks around the world injected roughly $18 trillion into the world economy

in the aftermath of the financial crisis, hoping that it would save us.

...