Economics

Clarida Says Global Outlook Has Worsened: Jackson Hole Update

Visitors view the Grand Teton National Park mountain range from the Jackson Lake Lodge in Moran, Wyoming.
Photographer: David Paul Morris/Bloomberg

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By Rich Miller and Craig Torres

August 23, 2019 at 12:21 PM UTC

Updated on

August 23, 2019 at 8:56 PM UTC

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Central bankers from around the world are gathering in Jackson Hole, Wyoming, for the Kansas City Federal Reserve’s annual retreat.

This year’s meeting occurs against a backdrop of volatile financial markets, rising fears of recession and global trade tensions. On Friday, the trade war between the world’s biggest economies escalated further as China announced that it would levy retaliatory tariffs on another $75 billion of U.S. goods. President Donald Trump quickly tweeted that he’ll respond later in the day.