Posted on Sep 2, 2021, 5:00 PM
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As every year for 40 years, about fifty central bankers met for two days at the end of August under the aegis of the US Federal Reserve. Even if the meeting of Jackson Hole, in the United States, was held virtually, for the second consecutive year. The speech of Fed Chairman Jerome Powell was no less expected, confirming the desire for a reduction in the Federal Reserve’s intervention in the economy and the start of a decline in its purchases of assets for the coming year.
While it has managed to reduce inflation to zero in a decade, the prospect of such a change in monetary policy at the Fed raises many questions. The consequences of the end of the expansionist policy of the Federal Reserve and the end of its support for the economy in times of crisis could impact the entire world economy. What will happen in particular to the policy adopted by the European Central Bank following it? The back-to-school meeting of the ECB’s Governing Council on September 9 is expected to produce answers.
The Story is a podcast of “Echoes” presented by Pierrick Fay. This episode was recorded in September 2021. Editor in chief: Clémence Lemaistre. Guests: Frédéric Rollin (Pictet Asset Management) and Guillaume Benoit (deputy head of the “Echoes” Markets department). Director: Willy Ganne. Music: Théo Boulenger. Graphic identity: Upian. Photo: Michael Brochstein / Sipa USA / SIPA. Sounds: James Wesley “Jackson Hole”, “Rocky IV” (1985), MoneyBagg Yo “Federal Fed”.
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