What to Expect from the Jackson Hole Symposium

What to Expect from the Jackson Hole Symposium?  

The Federal Reserve Bank of Kansas City will hold its 45th annual Economic Policy Symposium virtually this year, as opposed to in its traditional Jackson Hole setting in Wyoming. The event will kick off on Friday, 27th August. 

The forum brings together central bankers, private economists, policymakers, academics, government officials, and news media to discuss common issues and challenges relevant to today’s current market and political climate. 

Important areas of discussion include monetary policy, agriculture, public policy, and financial stability in global economies. 

As the world continuously faces issues surrounding the coronavirus pandemic and the new delta variant, national security and defense, severe droughts, and agriculture supply issues, the Jackson Hole Symposium is even more relevant today than the founders could have ever imagined.   

Federal Reserve Chairman Jerome Powell will give what may be one the most anticipated speeches of his career, as he is expected to provide important clues on when policymakers will begin to dial back monetary policy stimulus, also known as “tapering.”  The speech on Friday is named “Macroeconomic Policy in an Uneven Economy”. 

The US economy has grown at 6.6% in the April-June 2021 quarter, better than estimates. However, this growth has been boosted by consumer buying which is now seeing a slowdown because of the Delta variants of the pandemic. 

Gold prices have held strong over $1,800 ahead of the talk. If the Fed brings forward its tapering plans, investors expect the yellow metal to get stronger. 

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