I’m not really sure why everyone, markets including, is on pins and needles waiting to hear what comes out of Janet Yellens mouth at Jackson Hole later this morning. She is merely giving the opening remarks before the real fireworks begin.
We’re more curious to see what the outcome is on Monday morning, after the discussions take place and new agendas are implemented. The theme for this years symposium really says it all in a nutshell;
“Designing Resilient Monetary Policy Frameworks for the Future”
I can almost hear Yellen now…”we have made marked improvements but we still have a long way to go. Market conditions have improved as we progress towards the feds targets with it’s dual mandate. I see accommodative monetary policy for the foreseeable future, but we will have to raise rates soon here to save a lil face.” heh, sorry, had to throw that in there. Point made, I hope.
8am EST Yellen will give her opening remarks speech for the 2016 Jackson Hole Symposium the world has been waiting for. Will we be getting the .25 rate increase in September of 2016? or, is more time needed to revise enough numbers so it’s ideal for a Feds fund rate hike in December of 2016?
9:55am and 10:55am will be the discussions which will effect our childrens lives.
9:55am EST the discussion will begin about “Negative Nominal Interest Rates”. – Interpretation: How quickly can we implement negative rates without blowing up the current system and making sure we have the majority of society along for the ride?
10:55am EST “Evaluating Alternative Monetary Frameworks” – Interpretation: Has Blythe Masters made enough progress with the block chain to handle our business? If not, how much longer will she need, and how quickly can we transition?
I really wish Janet Yellen would give the closing remarks to the meeting, guess I need a genie.
We got a cashless monopoly game for our kids after Davos 2015, let’s see what comes out of Jackson Hole 2016!
I’ll leave you with the meeting yesterday between Federal Reserve Officials and the Center for Popular Democracy’s Fed Up campaign in Jackson Hole, Wyoming – August 25th, 2016