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The Complete Jackson Hole Schedule

Over the past several years, the two-day Jackson Hole symposium had garnered a particular prominence among economists and market watchers as this is where various key inflection points by the Fed were hinted, leaked or announced, including QE2, QE3 and the taper. This year, however, the gathering of central bankers in Teton County, will be less exciting due to the absense of the most important central banker in the world: Janet Yellen, which means the highlighter will be Vice-Chairman Stanley Fischer when he speaks tomorrow at 10:25pm  which will be a key event given the recent market turmoil.

Fischer must be on draft #3 of his speech, and surely less dovish than he might have been 36-48 hours ago as markets round the world have seen a remarkable recovery however the gyrations must be making the Fed very nervous about a move in just under 3 weeks. Most DM markets are back to where they were before the original sharp sell-off on Monday with the DAX pretty much recovering all its losses after dipping -7.8% for the week at one point. As DB accurately puts it, "a combination of the latest plate spinning from China and thin trading liquidity but heavy volumes have driven the sharp up move."

Bloomberg TV will have extensive one on ones with various central bankers as follows: be especially careful for the Bullard interview - last time he spoke during a market correction he sent stocks soaring to all time highs, although this year Dudley may have taken his role.

  • 7:30am: Fed’s Bullard on Bloomberg TV
  • 9:15am: Fed’s Kocherlakota, Mester on Bloomberg TV
  • 12:25pm: Swiss National Bank’s Jordan speaks in Jackson Hole
  • 2:15pm: Fed’s Lockhart on Bloomberg TV
  • 4:15pm: Reserve Bank of India’s Rajan on Bloomberg TV
  • 10:25pm: Bank of England’s Carney speaks in Jackson Hole

So for those who time their buying programs with the appearance of their central bankers,here is the full schedule starting with this morning's discussion of "Inflation dynamics through firms' pricing behavior" and concluding tomorrow with another discussion on "global inflation dynamics." So a lot of inflation discussion, yet shouldn't it be deflation?

     
Friday, August 28, 2015

Chair:     James Poterba
      Professor
      Massachusetts Institute of Technology
      President
      National Bureau of Economic Research
       
8 a.m.  Inflation Dynamics Through Firms’ Pricing Behavior
       
Authors:     Simon Gilchrist
      Professor
      Boston University
       
      Egon Zakrajsek
      Associate Director, Monetary Affairs
      Board of Governors of the Federal Reserve System
       
Discussant:     Pete Klenow
      Professor
      Stanford University
       
8:35 a.m. General Discussion
       
9 a.m.
   
International Aspects of Inflation Dynamics
       
Author:     Gita Gopinath
      Professor
      Harvard University
       
9:45 a.m.
      
Discussant:     Charles Engel
    Professor
      University of Wisconsin
       
10 a.m. General Discussion
       
10:25 a.m. Central Bank Perspectives on Inflation Dynamics
       
Panelists:     Thomas J. Jordan
      Chairman of the Governing Board
      Swiss National Bank
       
      Athanasios Orphanides
      Professor
      Massachusetts Institute of Technology
       
      Rodrigo Vergara
      Governor
      Central Bank of Chile
       
11:25 a.m.  General Discussion
       
12:40 p.m. Luncheon Address
       
Speaker:     David Daokui Li
      Professor
      Tsinghua University
       
2 p.m.  Adjournment
       
* * *       

Saturday, August 29, 2015

Chair:     Erica L. Groshen
      Commissioner
      U.S. Bureau of Labor Statistics
       
8 a.m. Reinflation Challenges and the Inflation: Targeting Paradigm
       
Authors:     Jon Faust
    Professor
      Johns Hopkins University
       
      Eric M. Leeper
      Professor
      Indiana University
       
Discussant:     Takatoshi Ito
      Professor
      Columbia University
       
8:35 a.m. General Discussion
       
9 a.m. Inflation Dynamics During and After The Zero Lower Bound
       
Authors:     S. Bora?an Aruoba
      Associate Professor
      University of Maryland
       
      Frank Schorfheide
      Professor
      University of Pennsylvania
       
9:45 a.m.
   
Discussant:     Lucrezia Reichlin
      Professor
      London Business School
       
10 a.m. General Discussion
       
10:25 a.m. Overview Panel: Global Inflation Dynamics
       
Panelists:     Mark Carney
      Governor
      Bank of England
       
      Víctor Constâncio
      Vice President
      European Central Bank
       
      Stanley Fischer
      Vice Chairman
      Board of Governors of the Federal Reserve System
       
      Raghuram Rajan
      Governor
      Reserve Bank of India
       
11:45 a.m. General Discussion
       
2 p.m. Adjournment

Source: Kansas City Fed