All eyes on Jackson Hole
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 23 August 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
Markets are looking for signals from Federal Reserve chair Jerome Powell during this week’s Jackson Hole symposium, global stock markets have lost about $3tn in value this month and there has been a mixed reaction to China’s approach to monetary policy.
Mentioned in this podcast:
Central bankers to make ‘higher-for-longer’ rate pitch at Jackson Hole
Global stocks head for worst month in nearly a year
China’s rate caution shines light on $56tn banking system
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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Josh Gabert-Doyon, Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:12.2 | Good morning from the Financial Times. |
| 0:14.0 | Today is Wednesday, August 23rd. |
| 0:16.0 | And this is your FT News Briefing. |
| 0:18.9 | We will talk more about the state of Wyoming this week than we do |
| 0:23.2 | pretty much at any other time during the year because it is time for the Jackson Hole |
| 0:27.2 | Economic Symposium. |
| 0:28.8 | Meanwhile, global stocks have taken a punch to the gut this month. |
| 0:33.0 | And China is being cautious with economic stimulus. |
| 0:36.6 | Despite its struggling economy, we'll take a look at why. |
| 0:41.1 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:57.4 | The world's leading central bankers and top economists are descending on Jackson Hole |
| 1:05.6 | this week for their annual symposium. |
| 1:08.1 | All eyes, of course, will be on Federal Reserve Chair Jay Powell, |
| 1:11.6 | whose speech on Friday is the most highly anticipated event of the gathering. |
| 1:17.2 | Here to help us decipher what's next for the central bank is the FT's US Economics Editor, |
| 1:21.7 | Colby Smith. Hi Colby. |
| 1:23.7 | Hi Mark. |
| 1:25.1 | So why all the anticipation for the speech, Colby? |
| 1:29.0 | So the FED Chair's speech is always the kind of main event of Jackson Hole. |
| 1:33.1 | It is the FED's annual conference. |
... |
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