#杰克逊霍尔会议#

Jackson Hole = The "Photo Sharing Conference" of Central Banks
Imagine a gathering of global central bank bigwigs in a small town, resembling a "group photo" in a social circle: some are toasting and chatting happily, while others are quietly reciting their "inflation targets." But ultimately, this is an occasion for "image-building." The Federal Reserve wants to show "I am steady and calm," the European Central Bank wishes to express "I am a bit anxious," while the Bank of Japan feels helpless: I want to raise interest rates too, but my wallet doesn't allow it.
Investors shouldn't be misled by the "academic atmosphere"; it's really just central banks managing their image. Today they say "tightening," tomorrow they say "flexibility," just like someone in a social circle who posts about "Buddhist-style health maintenance" but is out partying all night the next day. True investment wisdom is about seeing through the filters and understanding the motivations behind these statements. Don't forget: central bank leaders also need to manage their "rhetoric traffic."