Jackson Hole 30 Aug. to Sept. 1 … but so what?

Bernanke and the Kansas City Fed Central Bank Symposium at Jackson Hole, Wyoming Aug 30 – Sept 1, 2012.

I don’t think we can expect anything of much significance from Bernanke there.

Sober Look blog summed it up, IMO:

But what makes 2012 entirely different is that the key concern that pushed the Fed into asset purchases in 2010 no longer exists. The summer of 2010 was marked by renewed fears of deflation driven by credit contraction. The Fed was afraid of Japan-style deflationary pressures that are extremely difficult to arrest as bank lending shuts down. In the months preceding the 2010 Jackson Hole speech, credit was contracting sharply with banks steadily shrinking balance sheets. As discussed before, just the opposite is true in 2012 – credit is expanding at a decent pace. The chart below compares the trends now and in 2010.

Read the whole thing.
Then make Sober Look a regular read. Highly recommended.

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