Tencent Securities News according to Bloomberg, the Federal Reserve will hold its annual meeting of the central bank in the small town of Jackson Hole from August 24 to 26. Federal Reserve Chairman Yellen Yellen will attend Jackson Hole next week with European Central Bank President Jean-Claude Draghi, and the two are likely to debate the challenges facing the world's two major central banks.
Yellen will attend the Fed's annual seminar in Kansas City at 8 a.m. local time (10:00 New York time), the Federal Reserve announced on Thursday.To speak on financial stability The ECB has also confirmed that Draghi will participate with top economists and policy makers. Before the annual meeting, the US central bank was ready to start cleaning up its $4.5 trillion balance sheet, while the ECB was weighing when to slow its own massive asset purchases.
Gennadiy Goldberg, interest rate strategist at TD Securities in New York, said before the announcement of Yellen's attendance at the annual meeting: "Most of the world's central banks are consideringTighten monetary policyThis is a major change."
Draghi will not deliver a new policy message at the Jackson Hole annual meeting next Friday, according to people familiar with the matter interviewed by Reuters. However, the authorities thought that lower unemployment would lead to higher wages and prices, but they were puzzled by the recent general decline in inflation in advanced economies.All their speeches at the annual meeting will clarify how they view the recent decline in prices.
In addition, inflation in the US fell to 1.4 per cent in June, compared with 1.3 per cent in Europe, as measured by the Federal Reserve. Both central banks strive for inflation to reach 2%, and although the ECB's official target is lower, it is also close to that level.
Even though the unemployment rate in the United States has fallen steadily, halving from its post-financial crisis peak to 4.3%, and in Europe from 12.1% to 9.1%, prices in Europe and the United States are still rising slowly. At the same time, Japan's inflation rate is also very low, although low inflation has long been a problem for the Japanese economy.
Jackson Hole is one of the most well-known meetings on the world central bank's agenda and has been used in the past as a forum for predicting policy announcements.Former Federal Reserve Chairman Ben Bernanke said in a speech at the 2012 annual meeting that the United States is ready to implement a third round of quantitative easing to provide additional support to the economy. (compiled by Canran, chatting / proofreading: Zhu Yi)