Jackson Hole Economic Symposium
The Federal Reserve's Jackson Hole Economic Symposium is a three-day annual conference put on by the Federal Reserve Bank of Kansas City at Jackson Hole which is in Wyoming[1] in the county of Teton. The event itself is held at Jackson Lake Lodge in Grand Teton National Park. It was held in a few different locations in the late 1970's but Jackson Hole has been the location since 1981,[2] placed there to get Paul Volcker to attend because of the great fly fishing there in late August. Top economists from the Fed attend as well as other policy makers such as foreign central bankers. Economic papers are published and presentations are given.
The 1984 meeting focused on the causes of inflation.[2] The 2016 meeting focused on the effects of central bank balance sheets on financial stability.[2] The 2018 meeting focused on the effect of tech giants on the economy.[2] At the 2020 meeting Jerome Powell announced a new policy for raising interest rates not simply based on joblessness or expectations of inflation.[1]
During the COVID-19 pandemic the economic symposium was held virtually for 2020 and 2021. About 100-120 economists, central bankers, and journalists meet for the symposium.[3][4][5]
The 2022 meeting was the first in-person meeting since 2020. Despite acknowledging the risk of recession, the majority of central bankers expressed their determination to increase interest rates for the purpose of curbing inflation. Bank of Japan Governor Haruhiko Kuroda was exceptional in expressing his need to continue reducing interest rates.[6]
See also
- Federal Reserve Banks
- 2021–2022 inflation surge
- 2022 food crises
- 2020s commodities boom
- List of highest-income counties in the United States
References
- ^ a b Simonetti, Isabella (August 23, 2022). "Why Wall Street is so focused on a Fed conference in Wyoming". The New York Times. Retrieved 2022-08-26.
- ^ a b c d Kagan, Julia (January 27, 2021). "Jackson Hole Economic Symposium". Investopedia. Retrieved 2022-08-26.
- ^ "The Fed at Jackson Hole: Why the Smart Money is Watching | Seeking Alpha".
- ^ "A beginner's guide to the Fed's big conference in Jackson Hole". 25 August 2022.
- ^ "About the Jackson Hole Economic Policy Symposium".
- ^ Saraiva, Catarina (August 27, 2022). "Top Central Bankers Deliver Hawkish Message at Jackson Hole". Bloomberg News. Retrieved 2022-08-27.
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