2023-08-25 19:39:44
The Jackson Hole ski resort (Wyoming), annual meeting place for global finance VIPs. David Paul Morris/Bloomberg
The American central bank will not let go until inflation does not approach 2% in a sustainable way, assures Jay Powell, its president.
Like every end of summer for more than forty years, the world’s great fundraisers meet in Jackson Hole, a renowned ski resort in the Rocky Mountains, in the state of Wyoming in the United States. The decor, with the Grand Teton massif as a backdrop, is rustic, the outfits sometimes too, but it is not a cakewalk. Jerome Powellchairman of the US Federal Reserve (Fed) since 2018, his counterpart at the European Central Bank (ECB) Christine Lagarde and other central bank bosses meet there with a few economists to reflect on the challenges facing the economy. world.
The task is difficult. The symposium this year focuses on “structural changes in the global economy”. But the fundamental subject remains the adjustment of monetary policy in order to control inflation without causing an excessive recession or job losses. All after a phase of sharply rising interest rates, brought to levels…
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