Central bankers from around the world gather later this week in Wyoming Jackson Hole, but once the Fed chairman said that without their annual gathering is unlikely to be damaged in the summer of Wall Street traders.
Fed Chairman Ben Bernanke refused his annual invitation, breaking the 25-year tradition, Fed Vice Chairman Janet Yellen - top contenders replace Bernanke in January 2014 - only the adjustment panel.
So there is no open conference keynote speech Fed deliberately upcoming changes, the U.S. monetary policy signals the opportunity has been greatly reduced.
In previous years, the use of site preparation Bernanke financial markets in the Fed's policy stance changes.
"In the past, has come out with the news that Jackson, Hall said:" In principle, because the host is prominent position in terms of policy, it seems to be lighter ...... This year, Karl, chief economist at Northern Trust · Tannenbaum in Chicago.
Despite his absence, Bernanke is likely to be the center of chatter on the sidelines of the conference for participants to think about who will replace him when his term expired. U.S. President Barack Obama said Yellen and his former economic adviser Lawrence Summers is a popular candidate's work and in the fall, he will be determined. Summers did not attend.
Economists expect the Fed to start buying bonds after scaling its monthly meeting next month, but compared to getting a guide in Wyoming speakers, they will have to rely on the central bank in July meeting - due to be released Wednesday - trimming expectations.
That is to say, by the Kansas City Federal Reserve Bank-sponsored events will still be the best place to hear the high-power, global central bank's latest thinking, informed debate.
This year's conference focused on unconventional monetary policy, whether the evidence of quantitative easing, guidance, or a combination of both policy makers to provide the most interest rates to near zero firepower.
Discussion could not be more timely, just a few weeks after the Bank of England and the European Central Bank to follow the Fed how long they will keep interest rates low to provide guidance.
Tannenbaum said: "Since you have trading central banks all around the world how to answer this question is really tight, the results of these discussions may become a huge influence."
Unfortunately, the Bank of England's chief Mark Carney (Mark Carney) or the European Central Bank President Mario Draghi will attend this year. But Japan Bank President Haruhiko Kuroda (Haruhiko Kuroda), the Bank of England and the European Central Bank on the 2nd Penn vice president Vitor Constancio also become OK.
Meeting at the base of the Grand Teton mountains in remote, has long been a key attraction, especially those who relish hiking or in the nearby Snake River, between the famous fly fishermen, including former Federal Reserve Chairman Paul Wall grams, who participated in several fishing.
However, from a policy perspective, Bernanke's speech opening the conference on Friday morning has grabbed the spotlight.
The general crop Fed senior officials told reporters at the sidelines of the conference, this time around, chattering what to expect policy coalesce into a clear message that is unlikely.
In fact, the Fed has indicated that a significant reduction in 85 billions of dollars in monthly bond buying program later this year to prepare the financial markets.
Economists expect the Fed will be 17 to 18 September meeting, but will wait for the August non-farm payrolls data due to be released on September 6, the economy is ready for a move to a stronger sense.
They can also dig for clues, the Fed's policy-making committee is so strongly inclined in September last month's meeting. Bernanke has said he expects a third round of quantitative easing, or QE3, will be closed in the middle of 2014, providing improved economy as expected.
 



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