Türkiye’s central bank governor Karahan meets Fed’s Powell at Jackson Hole

Fatih Karahan, governor of the Central Bank of Republic of Türkiye (CBRT), recently met with Jerome Powell, the chair of the U.S. Federal Reserve (Fed), at the Jackson Hole Economic Policy Symposium in Wyoming, U.S.

What is theme of Jackson Hole this year?

• The meeting took place in Jackson Hole, a frontier town in Wyoming known for its historical role in farming and cowboy culture. The location has hosted the Jackson Hole Symposium since 1978, organized by the Kansas City Fed.
• Each year, this symposium gathers central bankers and financial experts worldwide to discuss critical economic issues. This year’s theme was “Re-evaluating the Effectiveness and Transmission of Monetary Policy”, focusing on evaluating the efficiency of monetary policy in the current global economy.

What was agenda?

The symposium addressed several significant global developments:

• Post-pandemic economic adjustments: As the effects of the COVID-19 pandemic diminish, discussions focused on how economies are restructuring and adapting to changes in trade networks and global financial flows.
• Long-term economic effects: There was an emphasis on understanding the long-term impacts of these changes on economic policies and frameworks.

What makes Jackson Hole so special?

• “Fly fishing“‘: The Kansas City Fed chose Jackson Hole in the early 1980s to entice Fed Chairman Paul Volcker with its excellent late-August fly fishing. Over the years, the symposium has become the premier event on the Fed’s calendar, attracting influential policymakers and thinkers because of its prestigious network, stunning location, and well-curated topics and guest lists.
• Annual event hosted by Fed: The Jackson Hole Economic Policy Symposium, a prestigious annual event hosted by the Federal Reserve Bank of Kansas City in the stunning Grand Teton National Park, has become a must-attend gathering for central bankers, top economists, and influential policymakers from around the globe.
• Informal setting: The event, known for its informal and rustic setting, has become a premier gathering for economic leaders, offering a unique mix of deep economic discussions and Western-themed activities. Attendees, often seen in cowboy boots and hats, enjoy not only deep economic discussions but also the spectacular scenery and activities like afternoon hikes and Western-themed dinners.