News in Systemic Risk: Wednesday, August 29, 2018 (10 a.m. ET)

Why the Fed needs a new monetary policy framework (Larry Summers, Brookings)

Quantitative or qualitative forward guidance: Does it matter? (Gunda-Alexandra Detmers, Özer Karagedikli, Richhild Moessner, BIS)

Real and Imagined Constraints on Euro Area Monetary Policy (Patrick Honohan, PIIE)

The New Financial Stability Star the Fed Needs to Navigate By (Bloomberg)

Turkish Lira Drops as Central Bank Move Fails to Lift Confidence (Bloomberg)

Argentina asks IMF for early release of standby funds (Reuters)

Federal Reserve debates banks’ capital buffers as markets surge (FT)

As Bali Awaits Financial Elite, Its Volcano Is Still Rumbling (Bloomberg)

Italian banks’ bond purchases slow after hitting a record (FT)