There will very likely be no forward guidance of any kind in Jackson Hole. But I don't think that's what it's all about.

I am looking forward to Jackson Hole. Not because I hope to find out whether the Fed and the ECB will raise their key interest rates once again. Powell and Lagarde won't tell us. But maybe they will give us new insights into their thinking. They do that all the time in speeches. But Jackson Hole is the forum where they do it particularly explicitly.