Two of the most powerful central bankers facing major monetary policy challenges will not attend the annual Federal Reserve Conference in Jackson Hole today.
The President of the European Central Bank, Mario Draghi, and the Central Bank of Japan, Haruhiko Kuroda, are the bankers who will not attend the Kansas City event.
This year’s gathering in Wyoming is taking place against a backdrop of volatile financial markets and rising fears of recession.
Jerome Powell will begin the formal opening of a symposium with a statement on the challenges of monetary policy. National Bank of England Chairman Mark Carney will also deliver a speech.
Powell will speak at 08:00 AM local time (10:00 AM in Washington), Carney will speak at 03:00 PM (Washington).
Trump’s favorite for next Fed chairman, Chris Waller, will also be present. Trump’s other choice, Judy Shelton, will not be present. Both remained without official invitations and nominations for the other two vacancies in Washington.
Trump, meanwhile, continues to attack Powell and the Fed, without rest, for raising interest rates too quickly and far too much.
Other guests at the prestigious event will be: three ECB board members – Benoit Coeure, Sabine Lautenschlaeger and Philip Lane. Frank Smets will also be present, commenting on his old man. Smets is the ECB Director general for Economics. Bank of Canada Chairman Stephen Poloz, as well as RBA, Philip Lowe and his New Zealand counterpart, Adrian Orr, will also be present. Former Fed chairman, Janet Yellen, and Hong Kong-based Monetary Authority Chief Executive, Norman Chan will also attend. The chairmen of the central banks of Norway, Denmark, the Netherlands, South Africa, Finland and Argentina, as well as others, will also be present.
The event is still an unspecified hour and Powell’s speech will be at 17:00 Bulgarian time.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
Trader Martin Nikolov