Courtesy of Pam Martens
Attendees at the Jackson Hole Central Bank Summit (Source: Kansas City Fed)
By Pam Martens and Russ Martens
Jerome Powell
The Chairman of the Federal Reserve, Jerome Powell, is slated to deliver a speech on Friday morning at an annual symposium in Jackson Hole, Wyoming. President Donald Trump has made it known that he wants some economic help from the Fed in terms of keeping interest rates low. Speaking of Powell directly, Trump told Reuters yesterday: “I’m not thrilled with his raising of interest rates, no. I’m not thrilled.” All eyes on Wall Street will be watching for any hints in Powell’s speech that he’s sending a message to Trump that he won’t be taking any loyalty oath to the President.
But aside from possible coded messaging to Trump to take his jackboot off the Fed’s turf, there are other important reasons to pay attention to the Jackson Hole gathering.
It’s called the Federal Reserve Bank of Kansas City’s Economic Policy Symposium, or simply “Jackson Hole,” but as the attendee breakdown above indicates, it’s a central bankers’ summit. Between the U.S. Fed and global central bankers, government attendees are outnumbered 14 to 1. Also note that global banks (“financial organizations”) also outnumber “government” representatives, who are given a paltry five slots. This attendee breakdown will not surprise you if you have read Nomi Prins’ brilliant book released on May 1, Collusion: How Central Bankers Rigged the World.
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