The annual Jackson Hole* 2-day economic symposium, attended by central bankers, policymakers, economists and academics, ended on Sunday. The title this year was “Fostering a Dynamic Global Recovery”.
Janet L. Yellen, chair of the Board of Governors of the Federal Reserve System, kicked off the symposium by giving a speech entitled “Financial Stability a Decade after the Onset of the Crisis”.
To the disappointment of all, Yellen did not drop any hints on how soon the Fed Fund rate will be hiked – Oct/Nov 31-1 and/or December 12-13. These are the two remaining Federal Open Market Committee (FOMC) meetings scheduled for this year. Most analysts believe the FOMC will hike the interest rate by 0.25 percent at its December meeting.
