U.S. Jackson Hole Symposium (Aug 26 – Aug 28)
Today is the First Day of Jackson Hole Symposium and it will last for total 3 days. It will be attended by Central Bankers, Finance Ministers, Academics and Financial market participants from around the world. The meetings are closed to the press but officials usually talk with reporters throughout the day. Comments and speeches from central bankers and other influential officials can create significant market volatility.
The Federal Reserve Bank of Kansas City’s annual Jackson Hole gathering, which was due to be held in person Aug. 26-28, is now shifting to a virtual format. The regional Fed bank said it was making the move “due to the recently elevated Covid-19 health risk level in Teton County, Wyoming.”
This meeting is traditionally scrutinized for hints on upcoming policy changes. Fed watchers will be looking for any signals about tapering its asset purchases and the outlook for the economy. Most FOMC officials anticipate that tapering before the end of the year will be appropriate. Powell has promised advanced warning to investors before changing the pace or composition of the Fed’s purchase.
The core topics to be discussed at meeting are Pandemic, Geo Political uncertainty over Afghanistan, Germany & Canada’s upcoming elections in September, Japan elections in October, and interest Rate hike just like Bank of Korea raised its key rate by 0.25 pct to 0.75 pct on Aug 26, 2021. There is news that neither ECB’s Lagarde nor the BOE’s Bailey will be attending Jackson Hole Meeting due to some reasons.
Let’s keep an eye over the market volatilities and comments which will publish throughout the day and upcoming next 2 days also.
Take a look and do trade wisely!