Lots More on What Just Happened With the Fed at Jackson Hole

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 22 August 2025

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

We're still at the Kansas City Federal Reserve Bank's annual economic symposium in Jackson Hole, where we just heard Fed Chair Jerome Powell's big speech. The speech -- which opened the door to a September rate cut -- proved to be a dovish surprise to the market and stocks are now soaring because of it. But why did Powell decide to focus on what he sees as "downside" risks to the labor market as opposed to "upside" risks to inflation? On this episode, we speak to Bloomberg TV's Michael McKee, who's been to dozens of Jackson Hole meetings since the late 1990s. We talk with him about the speech, how Jackson Hole has changed over time, and who's in the running to replace Powell next year.

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1:02.4	Bloomberg Audio Studios.
1:05.0	Podcasts, radio, news.
1:07.6	How many Jackson Hole's have you actually been to now?
1:10.6	It's a little hard to say, but my first one was 1997.
1:14.2	Wow.
1:14.4	I've missed a few here and there as breaking news has happened, and I've had to be somewhere else.
1:18.6	So somewhere around 25 to 30.
1:21.3	So Joe, if we keep doing this for another 40 years, we'll notch up as many Jackson
1:26.1	holes as Mike has been to, maybe.
1:28.3	Not if he does it another 40 years, too. We can never catch up.
1:31.2	If Mike stops now and we keep doing it until we're 80, it'll work out.
1:39.0	I did a dead list.
1:40.2	I'm both the most popular trader and most successful trader at Citadel.
	...

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