The waiting game…

The day is finally upon us – p rominent central bankers, finance ministers, econ omists and market participants  have all  made  their way to Jackson Hole, Wyoming for the  Fed’s annual symposium  that  kicked off yesterday. On occasions, former  US  Fed  C hairman,  Ben  Bernanke, used  this  pl atform  to  indicate major  changes in  monetary  policy.  Back in  2012, Bernanke  staunchly defend ed the Federal Reserve’s two previous rounds of large asset purchases and further  signalled that  the  central  bank  may  be  gearing  up  to  launch  a  third  round  of  quantitative  easing to  stimulate  the  economy. Two years later the president of the European Central Bank (ECB) , Mario Draghi, stole the show at Jackson  Hole by raising  market expectations and alluding to the possibility  that the ECB may follow in the  foot steps of Bernanke. Fast  forward four years later and  it’s no wonder that today’s speech by Fed Chair, Janet Yellen , has been touted  to be  the highlight of the symposium.

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