The Jackson Hole Fed symposium will take place virtually because of Covid’s risk

The annual Federal Reserve symposium, Jackson Hole, Wyo., Will take place virtually this year because of Covid’s risks, the Kansas City Fed announced Friday.

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

The Fed announced Thursday that President Jerome Powell will virtually deliver his statements. The president’s speech, which is usually the highlight of the event, will be broadcast live to the public on Friday morning.

Market participants will expect information on the Fed’s “reduced talks” from the symposium, as many central bankers intend to move away from the easy policy, which is to buy $ 120 billion in monthly Fed bonds.