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Kansas City Fed Shifts Jackson Hole Symposium to Virtual Event

The gathering of the world’s top central bankers & economists is traditionally scrutinized for hints on upcoming policy changes.

Kansas City Fed Shifts Jackson Hole Symposium to Virtual Event
Grand Teton National Park and Jackson Lake in Jackson Hole, Wyoming, U.S. (Photographer: David Paul Morris/Bloomberg)

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The Federal Reserve Bank of Kansas City’s annual Jackson Hole gathering, which was due to be held in person Aug. 26-28, is now shifting to a virtual format, the bank announced Friday.

The regional Fed bank said it was making the move “due to the recently elevated Covid-19 health-risk level in Teton County, Wyoming.”

The symposium’s usual setting is in the Grand Teton National Park outside Jackson, Wyoming. The gathering of the world’s top central bankers and economists is traditionally scrutinized for hints on upcoming policy changes.  

“While we are disappointed that health conditions will prevent us from being able to gather in person at the Jackson Lake Lodge this year as we had planned, the safety of our guests and the Teton County community is our priority,” said Esther George, president of the Kansas City Fed.

Kansas City Fed Shifts Jackson Hole Symposium to Virtual Event

Covid-19 cases have spiked across the country as the delta variant spreads, spurring companies to re-evaluate return-to-work plans and schools to return to virtual education, quarantines and mask requirements.

The Fed said Thursday that Chair Jerome Powell would deliver his remarks virtually via the Kansas City Fed’s YouTube channel on Friday Aug. 27. The topic of Powell’s speech is the economic outlook.  

Delta’s spread in the U.S. is already weighing on consumer and economic sentiment. The University of Michigan’s consumer confidence index dropped to its lowest level since 2011 in early August, spending on Bank of America credit and debit cards is moderating and OpenTable restaurant bookings are trending downward.

Goldman Sachs Group Inc. economists recently lowered their growth forecasts for the year, citing a “somewhat larger” than expected impact from the delta variant.  

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