The ‘Davos of central bankers’ is happening now: Here’s what it means for inflation and for your wallet
The world’s financial markets are preparing themselves as they tune it to Jackson Hole, Wyoming (USA). This mountain resort town is hosting on August 22nd and August 23rd, one of the most important economic and financial events that has, over almost 50 years, become known as the Davos for central bankers. This gathering is also known as the Jackson Hole Economic Symposium. It’s here from Wyoming that Jerome Powell, the Chair of the US Federal Reserve, will deliver a highly anticipated speech that could shape the future of interest rates, the global economy and even the US presidential election.
Powell’s words hold immense weight
Everyone from presidential candidates and bankers to economists and concerned citizens will be observing closely what Chairman Powell says at the Central Bank Symposium in Wyoming. His speech is expected to provide signals about the Federal Reserve’s plans for interest rate cuts in the coming months and years, a decision that has consequences on everything from credit card bills and mortgage rates to the prices of oil and groceries.
