Jackson Hole Symposium: Ben Bernake cements Fed's dedication to boosting employment

Then scuttles off for barbecue and line-dancing

 

Ben Bernake, chairman of the US Federal Reserve, just announced to fellow economists that the American central bank is renewing its duty to spur job growth through quantitative easing.

Jackson Hole, Wyoming, has hosted the annual Federal Reserve Symposium since 1982, and is famous for its world-class fly-fishing conditions (this is what supposedly made Volcker – as in the Volcker Rule – start attending) and provides a scenic backdrop for some very serious chat. However, Jackson Hole also provides a leisurely escape for some of the world's most consequential decision-makers. As Businessinsider notes:

Jackson Hole provides a nice opportunity for central bankers to let down their hair a bit — only figuratively speaking, of course — and mingle with other members of their tribe and a few academics in an informal setting," says Eswar Prasad, a Cornell University professor who will speak on a Jackson Hole panel this year.

A notable absence this year is Mario Draghi, president of the ECB, who will be missing out on this afternoon’s barbecue shenanigans where "some of the world's most high-powered economists don cowboy hats, string ties and other Western gear and sometimes join in a line dance". 

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Tony Blair won't endorse the Labour leader - Jeremy Corbyn's fans are celebrating

The thrice-elected Prime Minister is no fan of the new Labour leader. 

Labour heavyweights usually support each other - at least in public. But the former Prime Minister Tony Blair couldn't bring himself to do so when asked on Sky News.

He dodged the question of whether the current Labour leader was the best person to lead the country, instead urging voters not to give Theresa May a "blank cheque". 

If this seems shocking, it's worth remembering that Corbyn refused to say whether he would pick "Trotskyism or Blairism" during the Labour leadership campaign. Corbyn was after all behind the Stop the War Coalition, which opposed Blair's decision to join the invasion of Iraq. 

For some Corbyn supporters, it seems that there couldn't be a greater boon than the thrice-elected PM witholding his endorsement in a critical general election. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

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