The annual economic meeting organized by the Federal Reserve Bank of Kansas City in Jackson Hole, is now the main focus of the market where it is held face-to-face for the first time since the Covid-19 pandemic began in 2020.
Being the world's longest-running conference since 1982, it is a forum that brings together central bankers, policymakers, academics and economists from around the world.
With the discussion topic 'Reassessing Constraints on the Economy and Policy' this year, the participants present will present, discuss and debate the topic.
However, what investors are most focused on is Federal Reserve (Fed) Chairman Jerome Powell's speech which will be closely followed for clues on interest rate setting ahead of the September 20-21 policy meeting.
Despite this, many expect that Jerome Powell will continue to repeat the same stance to fight inflation.
Powell may emphasize that the central bank will use all the necessary power in raising interest rates and indicate to keep rates high for a longer period.
In addition, the central bank chief may also not give any indication of whether they should raise rates, whether by 50 basis points or 75 basis points, at the September meeting, which is now a market debate.
Instead, he is likely to reiterate that the next decision will depend on incoming economic data where before next month's policy meeting takes place, there will be another jobs and inflation report due out.
In addition to Jerome Powell, the focus will also be on Bank of Japan (BOJ) Governor Haruhiko Kuroda and Bank of England (BOE) Governor Andrew Bailey.
Unfortunately, European Central Bank (ECB) President Christine Lagarde was unable to attend the forum, instead she will be replaced by ECB Executive Board Member Isabel Schnabel.
