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2022-08-26

The Federal Reserve Bank of Kansas City’s annual gathering in Jackson Hole, Wyoming gets underway with a dinner on Thursday evening. Here’s what to expect from the two-day conference featuring central bankers from around the world:

Returning to an in-person conference for the first time since the pandemic spread in 2020, the heavyweight lineup is headlined by Fed Chair Jerome Powell with a speech on Friday morning, at 10 a.m. Washington time.

Investors will be listening closely for any clues about how the US central bank is thinking about the pace of interest rate increases ahead of its Sept. 20-21 policy meeting, after raising its benchmark rate by three-quarters of a percentage point at each of its last two meetings.

Kansas City Fed President Esther George, who is hosting the conference this year for a final time ahead of her mandatory retirement at age 65, said in a Bloomberg TV interview which aired Thursday that the Fed may have to lift the federal funds rate above 4% and hold it there for a time to bring inflation down.

Fun fact: Powell’s remarks will be livestreamed from the lodge in Wyoming’s Grand Teton National Park, taking viewers for the first time inside the conference room where the Fed has held its prestigious retreat since 1982.

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