Last night kicked off the first ever event to discuss monetary and fiscal policy at the same time as the Central Bankers are discussing policy. Annually central bankers and others who influence monetary policy gather in Jackson Hole to discuss conditions and what if any possible changes should be made to policy. The Jackson Hole Summit, sponsored by American Principles Project; co-sponsored by Atlas Society, Young America’s Foundation, and the Cobden Center, has come together for the same reason only they discuss policy from a more realistic view and one that concerns a free market.
The event began with Steve Lonegan, Director of Monetary Policy at American Principles Project, talking about the historic importance of have this summit during the central banking summit. There have long been conversations and protests going on in which organized groups try to push policies that actually hurt the country as opposed to making the situation better. These groups are well-organized and funded but no other group has come forward until now to have a real discussion about the policies that are currently in place and how to make them better.
Steve Moore, Chief Economist for the Heritage Foundation, spoke to the guests that had gathered for the kick-off reception. Moore was on the editorial board of the Wall Street Journal and has authored several books on economic policy. Moore talked about economic recoveries and how policy makes a huge difference on how Americans recover. He talked about how American families have now lost $1,000 a year in income as opposed to gaining income as they should have.
The summit will continue through Saturday and features panels on policy as well as guest speakers from around the world. The importance of the summit is twofold: to bring attention to other ideas regarding policy and to bring attention to these policies to regular Americans. Most Americans will simply gloss over when they hear the terms ‘Federal Reserve’ or ‘Quantitative Easing’. These terms need to be simplified in a way such that Americans understand the monetary and fiscal policies the government is pushing and how it directly affects them and their families.
Why is this important to New Hampshire specifically? Because New Hampshire is a ‘First in the Nation’ state which means Granite Staters have the opportunity to hold presidential candidates’ feet to the fire when it comes to these issues. This isn’t necessarily an easy topic to discuss but it’s extremely important. The country has not been better off under current economic policies or those of others in the past. It’s time to have a real discussion about this by regular people because so far, no one is being held accountable.