Recently, I had the honor of being invited to attend the Rocky Mountain Economic Summit in Jackson Hole, Wyoming, as a member of the media. The conference was last Friday, July 11, 2014, and over the next few weeks, I’ll be writing four articles on the event which will be posted exclusively on ThinkAdvisor.com. In this post, I’d like to share a little of this experience with you.
Jackson Hole is one of the wealthiest counties in the U.S. and sits at 6,200 feet above sea level. This was the sixth year for this forum and the attendance was between 500 and 600. The media attendees sat in the balcony on either side of the platform, which gave us a bird’s eye view of the speakers. To my left was a 14-year veteran reporter from The Wall Street Journal; Bloomberg, Reuters, and some other media outfits were also represented.
This year’s speakers included three Federal Reserve presidents and a host of other experts from various fields. The experience was amazing as it provided me with an up-close, personal view of the U.S. and global economy from some of the most renowned individuals on the planet. The event was moderated by David Kotok, CIO of Cumberland Advisors and vice chair of the Global Interdependence Center (GIC). The day was divided into four sessions which were as follows:
I) Entrepreneurial Issues: Successes and Failures
II) Municipal Bonds: Successes and Failures
III) Federal Reserve Policy: Success and Failures
IV) Outlook for Recovery: A Global Tour
After Session III, the one with Fed presidents,all of us representing the media gathered in a private conference room where we held two 20-minute interview sessions with Charles Evans (Chicago Fed President) and Dennis Lockhart (Atlanta Fed President). During both meetings we asked whatever questions we wanted and Mr Evans and Mr Lockhart provided their personal points of view. This was the highlight of the trip for me.
(For some recent ThinkAdvisor articles on Federal Reserve actions and policies, see: Arthur Postal on Garrett Brings NY Fed Into FSOC Issues
Rich Miller of Bloomberg on Yellen’s Economy Echoes Arthur Burns More Than Greenspan, and Gil Weinreich on ‘Nasty Surprises’ in Store for Economy: AEI’s Makin.)
Again, during the next few weeks, I will be writing four articles with details on the Summit which will be published separately from this blog. This trip provided me with a unique perspective and a great opportunity to validate some of my thinking on what is behind Fed policy, all of which I will share with you soon.
Until then, stay tuned, thanks for reading and have a great week!