Jackson Hole event exposes hard road ahead


Hot seat: Powell during a session of the Jackson Hole Economic Policy Symposium. Powell opened the door to a US interest-rate cut in September at the gathering. — Bloomberg

Washington: The US Federal Reserve’s (Fed) annual gathering in the Rocky Mountains is usually a time for central bankers and their wonky friends to kick back, discuss a few complicated economic topics and then go for a hike in the shadow of Grand Teton. 

This year, the Fed’s Jackson Hole symposium, which wrapped up last Saturday, was at times a tense affair and drove home how difficult the path ahead is for the US central bank.

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