Every August, the world’s financial markets shift their attention from the centers of global commerce — New York, London, Tokyo — to a mountain valley in northwest Wyoming. Today, they will hear a speech by Federal Reserve Chairman Ben Bernanke.
So how did Jackson Hole, Wyo., come to wield such outsize importance in global economic affairs?
In a word, trout.
For four years starting in 1978, the Federal Reserve Bank of Kansas City hosted an annual conference at different sites and different times of year. The event drew little attention outside the insular world of economic analysts.