2025-08-28
39 分钟In 1982, the Federal Reserve Bank of Kansas City had a problem.
They wanted to hold an economic symposium on monetary policy.
And they wanted Paul Volcker to attend.
But how could they lure the Fed chair to their event?
What makes it the most special is the fact that it's one of the few places you can float and fish in the United States.
It's just a beautiful place in Wyoming.
Volker was an avid fly fisher,
and the best place for fly fishing in late August turned out to be Jackson Hole, Wyoming.
Picking it as the location for the conference worked.
Volker accepted the invitation.
And for more than four decades, the world's central bankers have been back almost every year.
Jackson Hole is an economic conference like none other.
Central bankers, economists, and journalists from across the world discuss academic papers,
and then go for hikes in the Grand Tetons.
But the big event is the Fed chair's address, this year delivered by Jerome Powell.
The Kansas City Fed was very wise to lure Chair Volker here to this national park more than 40 years ago,
and I am so proud to be part of that tradition.
Around the time of that first Jackson Hole meeting,
there were reports that the Fed chair and the president were at loggerheads over the speed of interest rate cuts.
even suggestions that the White House wanted Volcker gone.