Federal Reserve officials returning to Grand Teton National Park for the Kansas City Fed’s annual economic symposium on Thursday face one of the most challenging economic backdrops since officials began hosting the event in Jackson Hole, Wyo., in 1982.
U.S. inflation is running close to a 40-year high, while unemployment is at half-century lows. Global economies are reeling from the effect of multiple shocks—the coronavirus pandemic, a massive fiscal and monetary policy response, and the fallout from Russia’s war in Ukraine. Central bankers could soon confront difficult trade-offs between bringing down inflation and preventing a large rise in unemployment.
