Central bankers will be packing their bags ready for a few days in the great outdoors this week. But unlike for the rest of us, their annual August getaway — to Wyoming — will be no holiday.
The Jackson Hole Economic Symposium, which starts on Thursday, will be closely watched and for good reason. The beast of inflation has slipped its shackles and is running rampant around the world.
Federal Reserve chair Jay Powell is the symposium’s headline act — he is due to speak on Friday — with the audience keen to hear guidance on the US rate-setting path. His comments are likely to be hawkish given recent data on the US jobs market and views from the Federal Open Market Committee — the July minutes revealed some uncertainty over the strength of US employment, but the committee still advocated a restrictive rate-setting policy to quell price pressures.
The UK’s inflation problems will be brought into focus with the anticipated…
