BREAKDOWN: What Jerome Powell Said at Jackson Hole
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 27 August 2021
⏱️ 12 minutes
🧾️ Download transcript
Summary
The Fed couldn’t be clearer about continued long term dovish monetary policy.
This episode is sponsored by NYDIG.
The Kansas City Fed’s annual Jackson Hole Economic Symposium is sort of like TED for Central Bankers. In the lead-up to this year’s event, the conversation has been totally focused on whether or not Fed Chair Jerome Powell would signal a beginning of tapering of dovish support. NLW breaks down the expectations and Powell’s words to glean a picture of the monetary policy likely to come.
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NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Michael Nagle/Bloomberg/Getty Images, modified by CoinDesk.
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Transcript
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| 0:53.8 | Welcome back to The Breakdown with me, NLW. |
| 0:59.0 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:05.9 | The breakdown is sponsored by Nidig and produced and distributed by CoinDes. |
| 1:12.3 | What's going on, guys? It is Friday, August 27th, and today is one of the big days for central |
| 1:18.8 | bankers. It's the day of the annual Jackson Hole Economic Policy Symposium. This is an event |
| 1:25.3 | that the Kansas City Fed holds each year, and as I mentioned earlier |
| 1:29.0 | in the week, it's sort of like TED but for central bankers. It's a chance for them to get a little |
| 1:35.0 | bit more big-brained and meta than normal policy speeches. That can be making big, wild arguments |
| 1:40.6 | like outgoing Bank of England Governor Mark Carney did a few years ago. He proposed |
| 1:45.0 | the end of the U.S. dollar as reserve currency and the introduction of what he called a synthetic |
| 1:49.9 | hegemonic currency. Effectively John Maynard Kean's idea of a bank or which he proposed at Bretton |
| 1:56.7 | Woods as an alternative to U.S. dollar hegemony, and effectively Libra without Facebook. |
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