What Is the Jackson Hole Economic Symposium?
The Jackson Hole Economic Symposium is anannual symposium, sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyo., since 1981. Every year, the symposium focuses on an important economic issue that faces world economies. Participants include prominent central bankers and finance ministers, as well as academic luminaries and leading financial market players from around the world.
The symposium proceedings are closely followed by market participants, as unexpected remarks emanating from the heavyweights at the symposium have the potential to affect global stock and currency markets.
Key Takeaways
- The Jackson Hole Economic Symposium conference is an annual and exclusive central banking conference to foster open discussion about important and current policy matters.
- Papers and transcripts of the conference are compiled into proceedings books, which are posted on the website and published in a volume that is available for free online or in print.
- Past topics of consideration at the conference include the impact of tech giants like Meta (formerly Facebook), Amazon, Apple, and Google on big companies (2018) and financial stability in the wake of a global recession (2016).
Understanding the Jackson Hole Economic Symposium
The Jackson Hole Economic Symposiumis one of the longest-standing central banking conferences in the world. The mission of the eventis tofoster anopen discussion. Attendees are selected based on each year’s topic, with additional consideration given to create regionaldiversity among attendees.
The Federal Reserve Bank of Kansas City charges attendees a fee to cover the expenses associated with the symposium. About 120 people generally attend a year, representing a variety of backgrounds and industries. But attendance by participants is limited and select media is also invited. This not only helps keep the focus of the symposium on track but also provides it with transparency.
Each year, the Federal Reserve Bank of Kansas City selects a specific topic for the symposium and chooses a pool of attendees based on that topic. These experts write and present research related to the symposium's theme. The bank posts the papers online, along with full transcripts from the event. Anyone who wishes to view them can do so for free online, or get a free printed copy after they are published.
The topic for the 2024 symposium is “Reassessing the Effectiveness and Transmission of Monetary Policy.”
PastTopics at the Jackson Hole Economic Symposium
Changing Market Structures and Implications for Monetary Policy (2018)
With the rise of tech giants like Meta, Amazon, Apple, and Google, has the amassed market power of such big companies hurt the broader economy—or could it? Do antitrust authorities need to take firmer action?
Designing Resilient Monetary Policy Frameworks for the Future (2016)
In the wake of the global financial crisis, central banks worldwide used a variety of tactics toresuscitate their countries’ economies. While thetraditional tactic of slashing interest rates to reduce borrowing costs was widely used, many central banks also took the more unconventional approach of beefing up their balance sheets by acquiring financial assets, such assovereign, agency, and corporate bonds, and in some instances, stocks,in large quantities.
Price Stability and Public Policy (1984)
A major and ongoing consideration for central bankers is staying aheadof inflation by setting interest rates to prevent disruptiverapid price increases; however,these days, preventing inflation isn't as simple as it used to be. The global economy is awash in liquidity,normally an ignition source for inflation, as more money chases the same quantity of goods, leading to ever-higher prices.
What Was the Focus for the Jackson Hole Economic Symposium in 2023?
The topic for the 2023 Jackson Hole Economic Policy Symposium was "Structural Shifts in the Global Economy." Speakers included Jerome Powell, Chair of the Federal Reserve, Christine Lagarde, President of the European Central Bank, Ben Broadbent, Deputy Governor of the Bank of England, and Kazuo Ueda, Governor of the Bank of Japan. Topics that were discussed included structural changes in the financial markets and the conduct of monetary policy and structural constraints on growth.
What Happens at the Jackson Hole Economic Symposium?
The Jackson Hole Economic Policy Symposium is an annual gathering of individuals to discuss central banking policies. The symposium brings together people from across the economic, financial, and governmental fields, to discuss the most pressing matters facing global economics.
Who Attends the Jackson Hole Economic Symposium?
Prominent members from the government, academia, economics, and the financial markets attend the Jackson Hole Symposium. This includes heads of global central banks, managers of financial institutions, and professors from respectable universities such as Harvard and Stanford.
The Bottom Line
Each year, the Federal Reserve of Kansas City hosts the Jackson Hole Economic Symposium, bringing together economists, financial market participants, academics, U.S. government representatives, and media to discuss central banking policy issues. Each year, the symposium has a specific topic it discusses, seeking to discuss and improve long-term policies that are of concern to all parties involved.
