Jackson Hole Economic Symposium Definition and Why Is It Important

What Is the Jackson Hole Economic Symposium?

The Jackson Hole Economic Symposium is an annual symposium, sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyo., since 1981. Every year, the symposium focuses on an important economic issue that faces world economies. Participants include prominent central bankers and finance ministers, as well as academic luminaries and leading financial market players from around the world.

The symposium proceedings are closely followed by market participants, as unexpected remarks emanating from the heavyweights at the symposium have the potential to affect global stock and currency markets.

Understanding the Jackson Hole Economic Symposium

The Jackson Hole Economic Symposium is one of the longest-standing central banking conferences in the world. The mission of the event is to foster an open discussion. Attendees are selected based on each year’s topic, with additional consideration given to create regional diversity among attendees.

The Federal Reserve Bank of Kansas City charges attendees a fee to cover the expenses associated with the symposium. About 120 people generally attend a year, representing a variety of backgrounds and industries. But attendance by participants is limited and select media is also invited. This not only helps keep the focus of the symposium on track but also provides it with transparency.

Each year, the Federal Reserve Bank of Kansas City selects a specific topic for the symposium and chooses a pool of attendees based on that topic. These experts write and present research related to the symposium's theme. The bank posts the papers online, along with full transcripts from the event. Anyone who wishes to view them can do so for free online, or get a free printed copy after they are published.

The topic for the 2024 symposium is “Reassessing the Effectiveness and Transmission of Monetary Policy.”

Past Topics at the Jackson Hole Economic Symposium

Changing Market Structures and Implications for Monetary Policy (2018)

With the rise of tech giants like Meta, Amazon, Apple, and Google, has the amassed market power of such big companies hurt the broader economy—or could it? Do antitrust authorities need to take firmer action?

Designing Resilient Monetary Policy Frameworks for the Future (2016) 

In the wake of the global financial crisis, central banks worldwide used a variety of tactics to resuscitate their countries’ economies. While the traditional tactic of slashing interest rates to reduce borrowing costs was widely used, many central banks also took the more unconventional approach of beefing up their balance sheets by acquiring financial assets, such as sovereign, agency, and corporate bonds, and in some instances, stocks, in large quantities.

Price Stability and Public Policy (1984)

A major and ongoing consideration for central bankers is staying ahead of inflation by setting interest rates to prevent disruptive rapid price increases; however, these days, preventing inflation isn't as simple as it used to be. The global economy is awash in liquidity, normally an ignition source for inflation, as more money chases the same quantity of goods, leading to ever-higher prices.

The Bottom Line

Each year, the Federal Reserve of Kansas City hosts the Jackson Hole Economic Symposium, bringing together economists, financial market participants, academics, U.S. government representatives, and media to discuss central banking policy issues. Each year, the symposium has a specific topic it discusses, seeking to discuss and improve long-term policies that are of concern to all parties involved.