This is a good summary of some of the most important papers at Jackson Hole this year. The description at the top of Ben’s blog post is accurate: “Ben Bernanke sees merit in the case for keeping the Fed’s balance sheet large instead of shrinking it, as is the current plan.” Having listened to the same talks, I see the same merit. 

You can see Ylan Q. Mui’s reaction to this blog post of Ben’s in her Wonkblog post “The Federal Reserve confronts a possibility it never expected: No exit.”