Odd Lots This Is What We Just Learned In Jackson Hole
8 snips
Aug 26, 2023 
In this conversation, Tom Keene, co-host of Bloomberg Surveillance, and Michael McKee, international economics and policy correspondent, break down Jerome Powell's recent speech at Jackson Hole. They explore the event's significance in shaping monetary policy, the surprising trends in inflation and employment, and how this year compares to past gatherings. The duo shares personal anecdotes, navigates economic complexities, and discusses the intriguing dynamics between media, analysts, and the evolving financial landscape, all while reflecting on their experiences amid Idaho's stunning scenery.
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Complexity of the Moment
- The zeitgeist of Jackson Hole isn't clear until late into the event.
- This year's dominant theme is the complexity of the current economic situation.
Humbled Experts
- Attendees, despite their intelligence, feel humbled by how often they've been wrong.
- This humility stems from the unpredictable nature of recent economic events.
Failure of Traditional Models
- Traditional economic models like the Hicksian ISLM structure and Phillips curve are not currently effective.
- The theoretical framework for 2024 remains unclear.