Powell won’t be solving the disinflation puzzle at Jackson Hole
The US Federal Reserve chairman is likely to repeat last year’s tactic: make a short speech, without setting out a clear view on the path to a soft landing.
This weekend is the annual central bankers’ shindig at Jackson Hole in Wyoming’s spectacular mountains. Between shooting the Snake River rapids, avoiding the bears, and square-dancing in the evenings, inflation will be the core of the formal sessions.
Everybody who is anybody in central banking will be there. Not just central bankers, but academics and journalists who specialise in finance.
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Stephen Grenville is a former deputy governor of the Reserve Bank of Australia and a non-resident fellow of the Lowy Institute.
