Why world markets focus on tiny Jackson Hole, Wyo.

Every August, Jackson Hole, Wyo., becomes the focus for the world’s financial markets. Conferences held by the Federal Reserve Bank of Kansas City failed to draw a lot of interest when they first started in 1978. In 1982, the conference wanted to attract the attention of then Chairman of the Reserve, Paul Volcker, with a bit of fly-fishing. Colorado lacked the sufficiently cold waters for trout fishing and someone suggested Jackson Hole. Since then, the Jackson Hole Economic Symposium draws some of the biggest names in economics and finance.