Odd Lots

What It’s Like to Be a Fed President at Jackson Hole

Aug 26, 2024

Tom Barkin, President of the Richmond Fed, shares insights from the annual Jackson Hole Economic Symposium. He describes the unique dynamics of collaborating with other policymakers and journalists, revealing the blend of formal discussions and informal networking that shapes monetary policy. Barkin discusses Jerome Powell's recent speech signaling potential rate cuts, examines the US labor market trends, and highlights how economic conditions influence global perspectives on central banking. His experiences provide a fascinating glimpse into decision-making at this prestigious event.

35:05

Creator website

Episode guests

Tom Barkin

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

The Jackson Hole symposium serves as a crucial platform for central bankers to discuss monetary policy impact on the real economy.

Tom Barkin emphasizes the need for collaborative insights among Fed presidents to navigate complex economic factors like inflation and labor markets.

Deep dives

The Role of Jackson Hole in Economic Policy

The annual Jackson Hole economic symposium serves as a platform for central bankers and policymakers to address critical issues impacting the global economy. This gathering allows attendees to explore recent academic research, which can guide and inform monetary policy decisions. This year's theme centers on monetary policy transmission, emphasizing how such policies affect the real economy, highlighting the importance of communication and coordination among central banks. Conversations at Jackson Hole aim to enhance understanding of past policies and refine strategies for future economic challenges.

Anticipation Meets Reality in Economic Policy

03:13

Intro

3min

Insights from Jackson Hole

5min

Global Economic Perspectives: Insights from Central Banking

4min

Preparing for Jackson Hole: The Fed's Balancing Act

8min

Navigating Economic Data Dependency

6min

Navigating Monetary Policy and Economic Expectations

11min

Engagement and Opportunities with Business Leaders

2min

This year’s Economic Symposium in Jackson Hole, Wyoming marked a big change for US monetary policy, with Federal Reserve Chairman Jerome Powell telegraphing the first rate cuts in potentially two years. But what’s it actually like to be a policymaker at one of the most famous economics conferences in the world? And what do central bankers do when they all get together to talk policy? In this episode, we catch up with Richmond Fed President Tom Barkin, who describes what it’s like to be at Jackson Hole, what’s discussed and how the annual agenda put together by the Kansas City Fed comes together. We also talk about Powell’s speech and how Barkin is viewing the labor market right now.

Powell’s Pivot Leaves Traders Debating Size, Path of Rate Cuts

Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots

See omnystudio.com/listener for privacy information.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.

Odd Lots

What It’s Like to Be a Fed President at Jackson Hole

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

The Role of Jackson Hole in Economic Policy

Insights from the Richmond Fed President

Shifts in Consumer Spending Patterns

Balancing Inflation Risks and Labor Market Dynamics

Anticipation Meets Reality in Economic Policy

Remember Everything You Learn from Podcasts