Fed Jackson Hole 2022: The origins of the Federal Reserve’s Wyoming symposium

Yahoo Finance's Brian Cheung provides some background history on the Federal Reserve's annual economic symposium in Jackson Hole, Wyoming.

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BRIAN CHEUNG: Well, it's not just us talking about Jackson Hole, Fed watchers, economists, investors alike, all tuned in to the happenings that will be beginning on Thursday. But there's history behind the event that has built the Federal Reserve's annual meeting into one with monumental market-moving importance. Take a listen.

Every year in August, the world's most powerful central bankers convene in the grand Teton Mountains to chat economic policy. But why of all places in Wyoming?

Rewind to the late 1970s when the Central Bank's outpost in Kansas City started an economic symposium. First, in Kansas City. In 1982 after trying different locations, they move the event to Jackson Hole, Wyoming, hoping to draw attendance from then-Fed chairman and avid fly fisher Paul Volcker. He couldn't turn down the invite and history was made.

Today, the very exclusive Jackson Hole Economic Symposium is held for three days at the Jackson Lake Lodge, anchored by paper presentations and discussions. The events wrap up early in the afternoon to allow the roughly 120 attendees to enjoy the hiking or the fly fishing of Grand Teton National Park.

Many off-the-record conversations are also had here among friends and colleagues. Fed watchers love to pore over the papers and speeches made at the conference to read the tea leaves on how the world's top officials are thinking. Combine that with the many media interviews happening in between conference sessions, and it's no wonder why the Jackson Hole Economics Symposium remains one of the top economic events every year.

And this year's event, again, begins this Thursday, which we'll have the full coverage of right here on yahoofinance.com.