Economics
Draghi Has Reason to Temper the Drama in Jackson Hole Sequel
- ECB president will speak at Fed symposium at 1 p.m. in Wyoming
- At the same venue 3 years ago, Draghi signaled the start of QE
The Policy Clues to Look for at Jackson Hole
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When Mario Draghi steps up to the podium at Jackson Hole on Friday, he could be forgiven for expressing some satisfaction.
It was during his previous appearance at the U.S. Federal Reserve’s symposium in Wyoming three years ago that the European Central Bank president went out on a limb to lay the groundwork for quantitative easing. Back then, the euro area faced the risk of deflation, with near-record unemployment and anemic economic growth. Now those concerns are largely gone and governors are preparing to discuss when they might wind down bond purchases.