Finance News

The Fed's Jackson Gap Symposium is to happen just about because of the danger of Covid

The Federal Reserve's annual symposium in Jackson Hole, Wyo., Will take place virtually this year due to Covid risks, the Kansas City Fed announced on Friday.

"While we are disappointed that health conditions will prevent us from meeting in person at Jackson Lake Lodge this year as planned, the safety of our guests and the Teton County community is our priority," said Esther George, president of The Kansas City Fed announced in a press release.

The Fed announced Thursday that Chairman Jerome Powell would make virtual comments. The chairman's speech, usually the highlight of the event, will be broadcast live to the public on Friday morning.

Market participants will wait for insights into the Fed's "Taper Talks" from the symposium, as many central bankers want to get away from a simple policy, namely the Fed's monthly bond purchases of $ 120 billion.

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