Bitcoin Value Dip Ahead of Powell Remarks

## Overview and Mission The Federal Reserve, often called the "Fed," is the central bank of the United States, established by Congress in 1913 to provide the nation with a safer, more flexible, and stable monetary and financial system[1]. Its mission centers on a dual mandate from Congress: to promote maximum employment and maintain price stability, ensuring the dollar retains its value over time[1]. The Fed operates through a unique hybrid structure, combining a national Board of Governors in Washington, D.C., with 12 independent regional Reserve Banks, including institutions like the Cleveland Fed[1]. This decentralized setup allows the Fed to closely monitor economic conditions across diverse regions, industries, and communities, while maintaining independence from short-term political influences[1]. ## Key Functions The Fed’s responsibilities are broad and vital to the U.S. economy. It conducts monetary policy—primarily by influencing interest rates—to achieve its employment and inflation goals[2]. The Fed also supervises and regulates banks to ensure the safety and soundness of the financial system, works to minimize systemic risks, and fosters efficient payment and settlement systems[2]. Additionally, it promotes consumer protection and community development, addressing emerging issues through research, supervision, and enforcement of consumer laws[2]. ## History and Evolution The Federal Reserve is the third central bank in U.S. history, following two failed attempts in the 19th century[1]. Its creation was a response to the financial turbulence of the early 20th century, aiming to prevent crises and stabilize the economy. Over time, the Fed has evolved, adopting more transparent and inclusive policymaking processes. For example, it now conducts regular reviews of its monetary policy framework, engaging with academics, businesses, and the public to refine its strategies and communications[3][5]. ## Recent Developments and Achievements In 2025, the Fed completed its second major review of its monetary policy strategy, tools, and communications, reaffirming its commitment to transparenc

## Overview of the Jackson Hole Economic Symposium The **Jackson Hole Economic Symposium** is an annual international conference sponsored by the Federal Reserve Bank of Kansas City. It is one of the most prestigious economic gatherings globally, often described as "the world's most exclusive economic get-together" by *The New York Times*[1]. The symposium brings together central bankers, academics, journalists, financial industry leaders, and government officials from around the world to discuss long-term policy issues[1][2]. ## History and Key Aspects The symposium was first held in 1978 and has been conducted annually in Jackson Hole, Wyoming, since 1981. It was initially chosen for its scenic location, which was appealing to Paul Volcker, the then-Federal Reserve Chairman, who enjoyed fly fishing in the area[1]. The event is known for fostering candid discussions among its participants, with a focus on global economic trends and future directions[3][4]. ## Key Achievements and Current Status Each year, the symposium focuses on a specific theme, with recent topics including **"Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy"** in 2025[4][7]. The event has been pivotal in shaping global economic policies, with significant announcements often made during the conference[3]. Notably, Federal Reserve Chair Jerome Powell has frequently attended and provided insights into the Fed's stance on monetary policy[3]. ## Notable Aspects - **Global Representation**: The symposium attracts participants from over 70 countries, ensuring diverse perspectives on global economic issues[1]. - **Limited Attendance**: With only about 120 attendees, the event maintains exclusivity to encourage open discussion among participants[4]. - **Public Access to Information**: Papers and transcripts from the symposium are made available online for public access[2]. The Jackson Hole Economic Symposium remains a crucial platform for policymakers and economists to exchange ideas, making it a significant event in the business