The Jackson Hole conference is an economics conference that is hosted by one of the 12 regional Federal Reserves, Kansas City Fed. Created by the United States government, Jackson Hole conferences have a history of important policy decisions being unveiled. These decisions have implications for the world markets. Needless to say, for the next couple of weeks, the financial markets and media will be buzzing.
The theme for the 2021 Jackson Hole conference at Kansas City Fed. is Macroeconomic Policy in an Uneven Economy. Due to the coronavirus pandemic, there has been quite an impact on the global economy. It has been uneven because of the pandemic shock along with rising inflation and stagnant growth prospects. It is expected that this symposium will be attended by Janet Yellen, US Treasury Secretary, and Powell. Since the treasury secretaries don’t usually attend the conference, this is a very rare situation. Yellen was the chairperson of Jackson Hole before Powerll and has been the chief speaker before. If both of them attend as well as speak at the conference, it will be quite interesting as both of them are guardians of the monetary policy (Federal Reserve) and fiscal policy (Treasury). Together, they will be providing solutions to the problem of the uneven economy.
During the conference, they must be ready to answer a few big questions regarding what’s next for the US economy and how it’s going to impact the world economy. One of the most important questions is whether the monetary and fiscal stimulus will remain in the economy and if it does, for how long.