The Kansas Fed's annual symposium has been closely watched by economists and policy makers since its move to Wyoming in 1982.
Seeking to draw attention to its sparsely-attended annual economic symposium, The Kansas City Fed moved it to Jackson Hole, Wyo., in 1982 after learning that fly-fishing was a favourite pastime of then-Federal Reserve chairman Paul Volcker. Since then, the conference has become a highlight of the economic calendar and closely watched by policy makers.
U.S. President Ronald Reagan announces the appointment of Alan Greenspan, left, as his choice to replace Paul Volcker, centre, as chairman of the Federal Reserve Board, June 2, 1987.
Raghuram Rajan, then professor of finance at the University of Chicago, scandalized the annual symposium in 2005 by warning the financial system had absorbed dangerous risks during Mr. Greenspan’s tenure (who served until 2006). Three years later, the subprime mortgage meltdown proved Mr. Rajan right.
The last winter tram at Jackson Hole Mountain Resort is bombarded with snowballs by an excited crowd on April 2, 2006, as it’s retired after 40 years of service shuttling millions of skiers and summer tourists up 4,139 vertical feet.
Mr. Greenspan testifies before a government committee on Capitol Hill in Washington in this Oct. 23, 2008 file photo, after the financial crisis had erupted.
The hot tub at Hotel Terra Jackson Hole overlooks the Teton Mountains. Jackson Hole refers to the valley; the town, Jackson, has a population of 9,710. The Fed conference actually occurs farther north, in a lodge in Grand Teton National Park, about 80 kilometres south of Yellowstone National Park.
With the Teton Mountains behind him, Federal Reserve Bank Chairman Ben Bernanke steps out onto a balcony following his speech at the symposium Aug. 31, 2007.
(TED S. WARREN/AP)
From left, Mr. Bernanke, New York Federal Reserve President Tim Geithner and Federal Reserve Vice-chairman Donald Kohn pose for a photo in Jackson Hole in 2008.
(BRADLY J. BONER/REUTERS)
Mr. Bernanke, right, walks with European Central Bank President Jean-Claude Trichet at Jackson Hole in 2011.
President of European Central Bank Mario Draghi will not be attending this year’s symposium in Jackson Hole.
The local Lions Club mascot leads members in the Fourth of July parade in Jackson, Wyo. on July 4, 2012. This year’s drought forced cancellation of the evening fireworks show.
(ANGUS M. THUERMER JR./AP)
U.S. Federal Reserve Chairman Ben Bernanke arrives to testify before a Senate Committee in Washington, July 17, 2012. His annual address at Jackson Hole is the highlight of the gathering and closely watched by economists and global policy makers.