What is the 'Global Central Bank Annual Meeting'? Federal Reserve Chairman Powell and others will give speeches
白云追月素
发表于 2024-8-21 10:39:33
190
0
0
This Friday, Beijing time, the annual Jackson Hole Global Central Bank Annual Meeting is about to be held. Federal Reserve Chairman Powell, Bank of England Governor Bailey, and others will give speeches and elaborate on the latest monetary policy intentions. At a critical moment when the Federal Reserve's monetary policy is about to shift, this meeting has attracted the attention of global investors.
Although the "Global Central Bank Annual Meeting" is well-known, many people are not familiar with its history. The reporter found that the official name of the "Global Central Bank Annual Meeting" is the "Economic Policy Symposium", and the organizer is not an international financial institution such as the International Monetary Fund or the World Bank, nor even the Federal Reserve, but the Federal Reserve Bank of Kansas City. It is one of the 12 regional reserve banks in the United States and, together with the Federal Reserve Board in Washington, forms the central banking system of the United States, known as the Federal Reserve.
Although it is not an official event, the history of the seminar has lasted for 45 years, and each year's theme is enough to attract investors' attention.
In 1978, the Kansas City Federal Reserve held its first seminar in Kansas City, Missouri, with the theme of "World Agricultural Trade: Growth Potential". Subsequently, in 1979 and 1981, seminars were held in Vail, Colorado and Denver, respectively, to conduct academic discussions on agricultural topics.
In 1982, the Kansas City Fed decided to hold the seminar in Jackson Hole, a resort town in Wyoming, which is also the origin of the conference name. The theme of that year was "Monetary Policy Issues in the 1980s", and then Federal Reserve Chairman Paul Volcker attended the meeting. Volcker stated at the meeting that he wanted to lower the inflation rate. At that time, the US CPI fell from nearly 15% to around 6%, but it was still at a historically high level.
In 1989, then Federal Reserve Chairman Alan Greenspan, along with representatives from the Bank of Canada and the Bundesbank, conducted a seminar on the theme of "Monetary Policy Issues in the 1990s". This is the first time that the Federal Reserve Chairman has played an international leading role at a seminar, initiating a trend that has continued to this day.
The theme of the 2007 seminar, "Housing, Housing Finance, and Monetary Policy," was once considered too boring and criticized by attendees. But by the time the seminar began in August, the US real estate market had already collapsed and triggered a global financial crisis. This has enabled the seminar to gradually step out of the ivory tower and study financial issues in the real world.
Although the Chairman of the Federal Reserve will not announce any changes in monetary policy at the seminar, investors still hope to extract enough information from the speech to analyze the direction of the Federal Reserve's monetary policy. In 2010, then Federal Reserve Chairman Bernanke proposed the option of further easing policy, which was seen as a signal of further quantitative easing; In 2012, Bernanke once again expressed "serious concerns" about the market and subsequently launched the third round of quantitative easing policy; The current US Treasury Secretary Yellen delivered a speech during her tenure as Chair of the Federal Reserve in 2016, preparing the market for more interest rate hikes. Subsequently, the Fed began raising interest rates in December 2016 and continued to do so until 2018.
Since Volcker, successive Federal Reserve chairmen, including Greenspan, Bernanke, Yellen, and Powell, have attended the annual meeting, gradually increasing its influence. Nowadays, annual conferences attract major central bank governors, fiscal officials, economists, renowned scholars, financial media, and others from around the world to gather together to discuss economic prospects and monetary policies. Therefore, the Jackson Hole Central Bank Annual Meeting is also known as the "Davos Forum of Central Bank Governors".
The theme of this year's annual meeting is "Re evaluating the effectiveness and transmission mechanism of monetary policy". This topic has been an important topic in the recent interest rate hike cycle, with recent research focusing on the impact of different mortgage market structures, increasing public debt, and the popularity of online banking services.
However, the value of this year's "Global Central Bank Annual Meeting" is slightly insufficient, with only the Chairman of the Federal Reserve and the Governor of the Bank of England confirming their attendance and delivering speeches. However, European Central Bank President Lagarde is not expected to attend this year's meeting, and will be replaced by European Central Bank Chief Economist Philip Ryan. And Bank of Japan Governor Kazuo Ueda, who attended the annual meeting last year, may be absent this year because he will attend a hearing in the Japanese Diet on August 23rd. Traditionally, there have been few central bank governors or senior officials in China attending the Jackson Hole Conference.
However, considering that every word and action of the Federal Reserve Chairman has a significant impact on the global financial markets, and that it is currently a sensitive period when monetary policy is about to shift, the progress of this year's meeting still attracts attention.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Buffett has made another big move: this time he is targeting lithium mines
- Buffett has made another big move: this time he is targeting
- Network security company CrowdStrike: A considerable number of devices have been restored to normal operation
- It is reported that both Google and Meta are interested in acquiring shares of the parent company of Ray Ban Glasses
- UBS Predicts US Election in Advance: Four Election Results. What Chinese and American Stocks Fear Most is This
- Bilibili CFO Fan Xin: The goal for the third quarter is to achieve significant operating profit under non US GAAP standards
- Pre market intelligence: Nvidia's revenue outlook falls short of the most optimistic expectations, with a significant drop after the market closes; New column of "Announcement of treasury bond bond trading in the open market" on the official website
- Strawberry Bear Successfully Made Stars, Disney's Next Big Shot is Stitch
- Alibaba International Station, as the only invited cross-border e-commerce platform, appeared at Sibos Annual Conference
- Bilibili responds to 'suspected employee manipulation of lottery probability in live broadcast room': will investigate abnormal winning situations
-
随着“银十”结束,各家造车新势力都交出了一份亮眼的成绩单。 理想领跑10月新势力交付榜,鸿蒙智行重回4万辆,零跑、深蓝、极氪、小鹏等单月交付量均创新高,岚图、阿维塔、智己等实现破万,但哪吒却消失在 ...
- fanadam
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
为期超七周的大罢工终于落下帷幕。 当地时间11月4日,波音美国西海岸工厂工人们就改进后的合同提案投票。 随后,代表着波音超过33000名西雅图地区机械师的IAM工会经表决,以59%的同意票决定接纳波音提 ...
- cristianna
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
“新四化”的时代浪潮下,新能源汽车行业百家争鸣。伴随着自主品牌不断崛起,合资品牌当下的生存状况备受外界关注,如何打好电动化时代的突围战,成为合资品牌的新课题。 作为国内合资车企的代表之一,上汽 ...
- mbgg2797
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
证券时报网讯,热门中概股美股盘前普涨,小鹏汽车、哔哩哔哩涨近5%,蔚来涨超4%,阿里巴巴、拼多多涨超2%。
- p609520
- 3 天前
- 支持
- 反对
- 回复
- 收藏