New Delhi [India], August 23 : The markets around the globe will be eying the speech given by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Policy Symposium later today.
The central bankers and experts will be actively listening to the most influencing monetary policymakers, amid high expectations of lowering of policy repo rates by the American central bank in September this year.
This annual meeting of the Federal Reserve poses a significant importance in paving the way for the upcoming monetary decisions in the US.
This year's Jackson Hole Economic Policy Symposium is considered even more significant as the majority of the Fed members have indicated a policy rate cut in September.
Experts around the world are expecting announcements on the policy rate front from the Fed Reserve Chief during the event.
In the latest meeting held on July 30-31, 2024, the Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 5.25 to 5.5 per cent.
The Federal Reserve Bank of Kansas City's Economic Policy Symposium in Jackson Hole, Wyo., is one of the longest-standing central banking conferences in the world, as mentioned on the official website.
The event brings together economists, financial market participants, academics, U.S. government representatives, and news media to discuss long-term economic policy that affects the economy.
This year's theme for the annual event is "Reassessing the Effectiveness and Transmission of Monetary Policy," which is being held from August 22 to 24.
The participants are selected based on the expertise of the experts who discuss different sectors of the economy during the two-day event. The event is known for the open discussions affecting policies around the globe.
It provides vehicles for the advancement of ideas and public discussions. The event that took place in 2020 saw the most influential monetary policy that was widely adopted by the central banks around the globe.
The central banks globally adopted accommodative policies to offset the shocks caused by the Covid-19 pandemic. Soon after the pandemic reduced and inflation surged the central banks around the world responded taking ideas from the result of the symposium.
According to the information available on the official website, Powell's remarks will be streamed on the Kansas City Fed's YouTube channel, External Linkyoutube.com/kansascityfed on Friday, Aug. 23.
The papers and details of the discussions will be available on the Kansas City Fed's website.
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