Wall Street Cut From Guest List for Jackson Hole Fed Meeting
By Simon Kennedy Jul 22, 2014 6:27 AM ET
As the Federal Reserve Bank of Kansas City prepares to host next month’s annual gathering of central bankers in Wyoming, seasoned Fed watchers from the financial markets, including the chief U.S. economists of the biggest American banks, aren’t being invited, according to past participants.
Among those who didn’t make the guest list: Vincent Reinhart of Morgan Stanley (MS), Jan Hatzius of Goldman Sachs Group Inc. (GS), and Bank of America Corp.’s Ethan Harris. Onetime conference regulars, including Mickey Levy of Blenheim Capital Management LLC and Meredith Whitney of Kenbelle Capital LP, also lose out.
They’ll miss a conference that has foreshadowed some of the Fed’s biggest monetary-policy shifts since the financial crisis, and a keynote speech by Chair Janet Yellen. Perhaps as importantly, they also will be deprived of the opportunity to mingle with policy chiefs over meals and on mountain trails.
“For sell-side people, going to Jackson Hole was huge,” said John Makin, a resident scholar at the American Enterprise Institute in Washington, who as a principal of Caxton Associates LP attended most of the meetings during the past two decades. “If you’re a chief U.S. economist at a big bank, it was great to say you were there.”
This year’s three-day conference in the shadow of the Teton Mountains begins on Aug. 21 with the topic of “Re-evaluating Labor Market Dynamics.”
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http://www.bloomberg.com/news/2014-07-22/wall-street-axed-from-guest-list-for-jackson-hole-fed-conference.html
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