Fed’s Jackson Hole symposium to take place virtually due to Covid risk

The Federal Reserve’s annual Jackson Hole, Wyo., symposium will take place virtually this year due to Covid risks, the Kansas City Fed announced Friday.

“While we are disappointed that health conditions will prevent us from being able to gather in person at the Jackson Lake Lodge this year as we had planned, the safety of our guests and the Teton County community is our priority,” Esther George, president of the Kansas City Fed, said in a press release.

The Fed announced on Thursday that Chair Jerome Powell will deliver remarks virtually. The chairman’s speech, typically the highlight of the event, is set to be livestreamed to the public Friday morning. 

Market participants will be awaiting insights about the Fed’s “taper talks” from the symposium as many central bankers aim to move away from easy policy, namely the Fed’s $120 billion monthly bond purchases.