United States: Central Bankers at Jackson Hole
As every summer, central bankers meet for three days in Jackson Hole, Wyoming, in the western United States. Economists and financial market representatives will also be present. At the center of the debate: ...
As every summer, central bankers meet for three days in Jackson Hole, Wyoming, in the western United States. Economists and financial market representatives will also be present. At the center of the debate: global uncertainties and Donald Trump's criticisms of US central bank policy.
The speech of the head of the Fed , the US Federal Reserve, is particularly expected. Jerome Powell will have to defend his policy and respond to the attacks of Donald Trump, who believes that the Fed does not lower its interest rates enough.
A recession is no longer in doubt
The Fed did so, partly because of very low unemployment; but the economic situation is slowing down because companies invest little, worried about the trade war with China. A recession is beyond doubt, the question is when will it settle?
Fears weigh, also, on the other side of the Atlantic. In Europe, many seers are in the red: negative interest rates, Brexit in the United Kingdom, the contraction of growth in Germany and the political crisis in Italy, which weakens the euro.
Lagarde eagerly awaited
On this point, the presence of Christine Lagarde, who will take office on 1 November at the head of the ECB, the European Central Bank , is eagerly awaited.
It does not come from the seraglio of the central bankers. Will Christine Lagarde have the same strength of conviction as her predecessor, Mario Draghi, to support a sluggish European economy.