Investors in the United States and the world are eagerly awaiting the outcome of the Jackson Hole Economic Symposium, to be held between August 26 and 28 this year. The focus will be on “macroeconomic policy in an uneven economy.”

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It is believed that Federal Reserve Chairman Jerome Powell may give insight on plans for tapering the $120 billion-a-month government bond-buying programme that has helped S&P 500 to double since its March 2020 lows. However, some investors believe that the Fed will see more data before announcing any plans.

What is Jackson Hole Economic Symposium all about

The Jackson Hole Economic Symposium is an annual event being held in Jackson Hole, Wyoming, since 1981. It is one of the longest-standing central banking conferences in the world. The conference is sponsored by the Federal Reserve Bank of Kansas City.

The conference hosts about 120 attendees every year, including central bankers, academics, financial market participants, and finance ministers from around the world.

Past topics of consideration at the conference included: Implications of monetary policy (2020), challenges for monetary policy (2019), changing market structures and implications for monetary policy (2018), fostering a dynamic global economy (2017), and so on.

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Why is it important

The main aim of the Jackson Hole Economic Symposium is to provide a platform where open discussions of economic issues can be held. The Federal Reserve Bank of Kansas City with the help of stakeholders finalise the topic for the annual conference.

Once the topic is finalised, experts and scholars in that field are required to write essays and research papers on subtopics that suit the selected theme. Different topics critically related to world economies face are discussed threadbare every year. Policies, decisions, and transcripts resulting from the conference are made available to the public as they are published on the Fed Kansas City website.

Following this, a compilation is done after careful deliberations and then published.

(Edited by : Shoma Bhattacharjee)

First Published:Aug 20, 2021 7:11 PM IST