Stock trading choppy, a sign investor anxiety is on the rise and Wall Street seems to have only one thing in mind. It’s Jackson Hole.
This is the abbreviation for the Kansas City Federal Reserve Bank’s Annual Economic Policy Symposium. The symposium will be held at the Jackson Hole Resort Area in Wyoming and will begin on Thursday this year. This is his three-day gathering of government and academic experts on the economy, including many central bankers from around the world.
First held in Missouri in 1978, the event includes conversations on economic policy with approximately 120 economists, investors, US officials and journalists.
The conference has developed a unique importance as it is where policymakers discuss pressing economic issues and is often the place where important announcements are made and important ideas emerge. rice field.
Two years ago, Fed Chairman Jerome H. Powell used a speech in Jackson Hole to announce that the Fed had a new model for assessing how and when to raise interest rates, suggesting that the unemployment rate will continue to rise. He said he no longer intended to do so just because it was falling, and inflation was expected to heat up.
Last year, he explained why inflation at the time could be to blame. temporary phenomenonlargely due to the reopening of the global economy after the pandemic.
But the Fed’s view of inflation today is quite different, and investors and economists are eager to hear Mr. Powell and get some sense of how interest rates will rise in the future.