Jackson Hole Conference and our economic future

The annual conference of central bankers and others engaged with economics, held in Jackson Hole, Wyoming, from Aug. 21-23, has been especially noteworthy. Federal Reserve Chairman Jerome Powell indicated more clearly than in the past that a cut in interest rates is likely at the September meeting of the Federal Reserve Board Open Market Committee. Powell, skillful at opaque "fed-speak," nonetheless signaled a simulative change is likely. He specifically referenced revised employment data from the U.S. Bureau of Labor Statistics indicating job creation this year has been considerably below what was reported earlier. This is particularly newsworthy in part because until now, Powell has consistently emphasized the need to restrain inflation. Cutting rates tends to spur inflation as well as economic growth. These conferences began in 1978, on the initiative of the Federal Reserve Bank of Kansas City, one of nine regional banks in the federal reserve system. The relatively slow summer months can provide harried bankers, economists and other executives and professionals a little more time foWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times