As the Federal Reserve Bank of Kansas City prepares to host next month’s annual gathering of central bankers in Jackson Hole, Wyo., seasoned Fed watchers from the financial markets, including the chief U.S. economists of the biggest American banks, aren’t being invited, according to past participants, Bloomberg reported today. Among those who didn’t make the guest list: Vincent Reinhart of Morgan Stanley, Jan Hatzius of Goldman Sachs Group Inc. and Bank of America Corp.’s Ethan Harris. They’ll miss a conference that has foreshadowed some of the Fed’s biggest monetary-policy shifts since the financial crisis, as well as a keynote by Chair Janet Yellen. This year’s three-day conference begins on Aug. 21 with the topic of “Re-evaluating Labor Market Dynamics.” The exclusion of Wall Street may reflect a dispute between some regional Fed bank presidents who are more worried by loose monetary policy than Fed governors in Washington, including Yellen.
