The job market is humming, and so are the U.S. financial markets, with major stock indexes near record highs.
All that would normally trigger a green light for the Federal Reserve to raise interest rates — especially when they're barely above all-time lows. Yet the Fed, still casting a wary eye on the economy, has yet to signal that it will resume raising rates soon.
That signal, though, could come as soon as Friday, when Fed Chair Janet Yellen will address the annual meeting of the world's central bankers in Jackson Hole, Wyoming.
Fed leaders have sometimes used the Jackson Hole event to announce major policy shifts. In 2010, for example, Chairman Ben...