24th August 2011
The Guardian's Graeme Wearden reports that the US rural retreat of Jackson Hole Wyoming will be the focus of world economic attention on Friday.
He writes: "The Federal Reserve Bank of Kansas City has held the economic policy symposium every year since 1978. It is billed as an opportunity for bankers to discuss and debate emerging issues and trends.
"This year's theme has not been released, but the event is likely to focus on the sovereign debt crisis. European Central Bank president Jean-Claude Trichet is known to be attending, so eurobonds could also be on the agenda."
The head of the Federal Reserve Ben Bernanke will also give a keynote speech, and speculation is growing that he will announce a further economic stimulus package.
The potential effectiveness of QE3, as it has been dubbed, has been debated by espected Harvard economist Kenneth Rogoff.
Along with fellow academic Carmel Reinhart, they have argued that history shows that too much borrowing in terms of GDP is a drag on economic growth
Whatever happens in Jackson Hole this Friday it's impact will be felt in the markets almost immediately.
In The Guardian piece Michael Hewson, market analyst at CMC Markets, fears markets will be disappointed, having bought shares on the expectation that further QE will be unveiled.
Cameron Peacock, market analyst at IG Markets, also warned Guardian readers that shares could drop next week "even if Bernanke does deliver the goods".
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