The changing nature of economic retreats
Many eyes are on Jackson Hole, Wyoming today, as the markets wait on remarks from Federal Reserve Chairman Ben Bernanke. It was at last year’s Fed Symposium that Bernanke laid the groundwork for the Fed to buy $600 billion in treasury bonds to stimulate the deflating economy. Many are hoping that this year, the Fed will unveil another economy-boosting plan. Conferences like the Fed retreat at Jackson Hole or Davos weren’t always considered backdrops for major policy announcements. When did this change? And why? We’re speaking with Matt Taibbi, contributing editor at Rolling Stone.
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