The Federal Reserve’s annual conference, hosted by the Kansas City Fed in Jackson Hole, Wyoming, began Thursday evening with a dinner for the central bankers, economists and journalists who have flown in from around the world.

The U.S. Federal Reserve's pivot toward the labor market in 2020 will get a reboot on Friday when Fed Chair Jerome Powell is expected to release a new framework for the central bank that accounts for a half-decade in which inflation surged,

Ahead of Federal Reserve Chair Jerome Powell's pivotal Jackson Hole address on Friday, cryptocurrency bettors are pricing in more than an 80% chance that the central bank cuts interest rates this year.

Lawrence G. McMillan is president of McMillan Analysis, a registered investment and commodity trading advisor. McMillan may hold positions in securities recommended in this report, both personally and in client accounts. He is an experienced trader and money manager and is the author of “Options as a Strategic Investment.” www.optionstrategist.com.

Gold edged down as investors awaited the Federal Reserve’s Jackson Hole gathering for clues on the path for US interest rates.Bullion traded around $3,340 an ounce, paring some of the gains made on Wednesday when President Donald Trump’s call for Fed Governor Lisa Cook to resign bolstered haven demand.

In a typical year, Jackson Hole sparks excitement mostly among market watchers. This time, the symposium feels more pivotal.