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