To those Fed fanbois who bought plane tickets and booked a hotel for next Friday's Jackson Hole symposium just so they can take a selfie with Neel Kashkari as he pretends to burn bitcoin, rush to get a refund now.
Late on Friday, the Kansas City Fed, organizer of the annual Jackson Hole event which this year takes place on Aug 26-28, announced that for the second year running, the event would shift to virtual format due "to the recently elevated COVID-19 health risk level in Teton County."
“While we are disappointed that health conditions will prevent us from being able to gather in person at the Jackson Lake Lodge this year as we had planned, the safety of our guests and the Teton County community is our priority,” said Esther George, president and CEO of the Kansas City Fed.
Next week's symposium - whose usual setting is in the Grand Teton National Park outside Jackson, Wyoming - is the most closely watched event of the summer, as Powell is now widely expect to unveil the launch of QE tapering next Friday, which according to some will be a major policy mistake, just as the wheels are coming off the US economy and with China rapidly slowing.
According to the Kansas City Fed, Powell’s remarks will be livestreamed to the public at 9 a.m. CT/10 a.m. ET on Aug. 27 via the Kansas City Fed’s YouTube channel at External Linkwww.youtube.com/KansasCityFed. Invited attendees will participate in an online academic symposium following the speech.
The program’s full agenda will be available at www.KansasCityFed.org at 7 p.m. CT/8 p.m. ET on Aug. 26. Continuing with past practice, conference papers and other materials will be posted as they are presented during the event. After the event, a transcript will be posted on the Bank’s public website.