Fed Snubs Wall Street Elite at Jackson Hole Meeting

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July 22 (Bloomberg) -- Bloomberg’s Michael McKee previews this year’s Federal Reserve Jackson Hole gathering with a look at what may be accomplished there and the big names left off of the guest list. He speak son “Bloomberg Surveillance.”

Portfolio, a defensive stance.

New, this is a big deal in economics.

There will not be a rocky mount high for wall street's leading economists, no room at jackson hole lodge.

Michael mckee has a take it as a member of the press.

He will be there, young hot videos, even harris, and vincent reinhart -- jan hatzius, ethan harris, vincent brian hartline not invited.

This is the central bank version of the velvet rope.

You have to be on the list, nobody has seen the list.

They change the same every year and invite people based on what the theme is.

There were no wall street people invited last year.

In 2012, there was a bunch of them.

It goes back and forth.

Is this a change to the new president of the kansas city fed?

A new regime and a new policy?

It probably is a change.

She wants to invite different people who had been there.

Some people have been there since the beginning, they want fresh faces.

It has more to do with the theme.

The old and the new testament, i want to see.

This is an exciting four days.

These are the proceedings of the last two years, they simulate a book every year with the transcript of what went on.

Last year was the changing policy landscape.

This year before, global intervention -- global dimensions in unconventional monetary policy.

Tina read them cover to cover.

Maya macguineas' name is in here.

Somebody else who has experience.

What you think about wall street economists not attending?

It is good, they do rotate the people who come.

They have a set of people who come regularly.

Then they rotated the different people and i've had the chance to go when it was more about fiscal policy.

They are dense papers but a lot of important, groundbreaking work comes out of the symposium and then guide some of the thinking in the coming months.

This is not when are we going to raise rates, this is very dense, academic work.

It is like an academic conference.

What was the big id out of last year?

Basically, what do we do in the future given that we have never done any of this so far.

-- there was not a single take away their way there was the year before when michael woodford talked about the idea of using forward guidance.

Tom went on about that for weeks.

Tina, you work with an analyst at citigroup, one of the most famous attendees.

You and i remember the day the film dollar -- your member the day -- you remember the day someone stormed out.

There can be emotion.

That kind of thing happens but everybody makes up at the end.

Would you like to go?

I would like to go to the fishing part.

A lot of economists and central bankers fish, there is not a formal fishing part.

There is formal hiking, rafting and outdoor sessions.

No fishing.

I know a number of central bankers go fishing on their way to and from the conference.

Will -- will ms.

Yellen be in attendance?

They invite you and then they say you are not supposed to tell people you are coming or report who is going to be there.

It has been reported by others that janet yellen will be there in her capacity as the fed chairman.

Ben bernanke did not go last year, first time ever a fed chairman did not attend.

Is she going to lead a hiking expedition?

I've never hiked.

You would if yellen was leading the way.

We get up for "surveillance" at about 3:00 a.m. not funny.

Do not feed the bears.

Mike, you cannot tell us where you're going?

I can tell you that i am going, the press are in a different category.

We do pay to attend like everybody else but they do allow press in as long as we respect the rules of the conference.

This text has been automatically generated. It may not be 100% accurate.


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