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Bloomberg 23 August, 2021 - 01:33am 62 views

When is the Jackson Hole Economic Symposium 2021?

The Kansas City Fed announced it will host its 2021 Economic Policy Symposium, “Macroeconomic Policy in an Uneven Economy,” virtually on Friday, Aug. 27. The program's full agenda will be available at www.KansasCityFed.org at 7 p.m. CT/8 p.m. ET on Aug. 26. kansascityfed.orgJackson Hole Economic Symposium

How to catch the legendary warrior Pokémon in Pokémon Go.

Zacian, one of the legendary Pokémon from Gen 8, will now make appearances in raids in Pokémon Go.

Like it's duo partner Zamazenta, Zacian has two forms - Hero of Many Battles and Crowned Sword. Currently you can only capture Zacian in its Hero of Many Battles form, so make sure you know Zacian's counters and weaknesses.

Zacian, like most legendary Pokémon, appears in five-star raids, so you will need to team up with other trainers to ensure its defeat. Thankfully, a Remote Raid pass will allow you to join this battle from afar.

Battling and catching Gen 8 Legendary Zacian, released August 2021 in Pokémon Go.

Below you can find the counters and weaknesses for Zacian in its Hero of Many Battle Forms in Pokémon Go:

Here are the CP ranges for battling and catching Zacian in five-star raids:

Zacian can use and learn a variety of Fast and Charged moves in Pokémon Go, including:

Together, Zacian and Zamazenta make up the Hero duo from the Galar region, with each one being a mascot for either Pokémon Sword and Shield.

The story of the Hero duo - the pair resting in the Slumbering Weald until Galar's time of need - takes clear inspiration from the tale of how King Arthur may one day return to save the British Isles.

This Arthurian connection is deepened when you consider the possibility that Zacian could be inspired by Excalibur, Arthur's legendary sword. In the Pokémon Shield entry for the Crowned Sword version of Zacian, the sword is described as having the ability to cut through anything and referred to as the 'Fairy King's Sword,' which seem to be direct references to the mythical king and his blade.

Good luck catching Zacian in Pokémon Go!

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Lottie Lynn is Eurogamer's guides writer. She likes exploring new games and still has nightmares about the moon from Majora's Mask.

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Fed's Jackson Hole Symposium Goes Virtual Amid Delta Variant

Bloomberg Markets and Finance 22 August, 2021 - 07:10pm

With a victory Burnley in the books, we take a closer look at what it all means for the Reds.

It was a dominant performance, and the Reds were deserved winners on the day. The win continues Liverpool’s perfect start to the season: 6 points from 6, 5 goals scored, none conceded.

Let’s just take another moment to appreciate fans being back in the stadium. It was wonderful hearing the fans singing, cheering, and giving out to Mike Dean (more on him in a bit). Plus the forces of good (beautiful attacking football) prevailed over the forces of evil (booting lumps out of the opposition).

We know we have the world’s best defender, but we missed so many of his other attributes, especially what he offers going forward. Liverpool looked threatening on several set pieces today, thanks in large part to Big Virg necessitating multiple markers in and around the box. Moreover, his ability to pick out Mo Salah or Harvey Elliott on the big switch created several chances, including the one that Sadio Mané emphatically stuck into the back of the net.

I love clean sheets, and we know Virgil’s opinion on the subject. But Alisson Becker in particular seems to have decided that he’s had it with this whole “conceding goals” bullshit. I agree Ali, it is bullshit. Our first two opponents haven’t created many opportunities, but on the rare occasion when they have gotten in behind, the world’s best goalkeeper was there to come up big—quite literally so. Yes, we’ll face tougher challenges than Burnley and Norwich City, but if Ali’s early season form continues and he can stay healthy, the league won’t be getting much change out of this defensive unit.

Burnley amassed 12 fouls today and not a single warning was given to any of their players. Moreover, the 12 fouls were actually under representative of the aggressive and often reckless nature of some of their challenges. That Burnley (and other similar English sides) are putting in such rough challenges is no surprise, but referees have a duty to uphold the rules of the game and protect the players. Mike Dean failed from the opening minutes to control the game. We’re lucky that Liverpool’s players got out of the match with ankles, knees, etc intact.

It’s a big showdown with Chelsea, one week from today. If Liverpool are able to send Chelsea back to London emptyhanded, it’ll be quite the statement victory. The flip side is that Chelsea will be hoping for a statement victory of their own. There’s a long, long way to go for any side hoping to challenge for the league, but we’ve seen how a hot start in recent seasons can build momentum and break the will of any other would-be challengers. Three wins from three would be a great start for Liverpool, especially with City and Chelsea (and possibly others) chasing.

Federal Reserve Cancels In-Person Jackson Hole Retreat Over Covid-19

Barron's 22 August, 2021 - 07:10pm

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When the Federal Reserve on Friday scrapped in-person plans for its Jackson Hole symposium, it sent a signal investors should heed.

“Due to the recently-elevated Covid-19 health risk level,” the Kansas City Federal Reserve Bank said in a statement on its website, its annual economic policy conference will convene virtually on Friday, August 27. The move comes as infections rise nationwide and after Teton County, Wyo., where dozens of central bankers, policymakers and economists normally gather for the event, changed its transmission risk level to “high.”

The Fed’s decision to cancel its own in-person event is representative of a broader pullback in economic activity as virus concerns mount. Fresh data from the Transportation Security Administration show a slowdown in travel, with the number of people passing through TSA checkpoints down 10% on Friday from a recent high in mid-July. Meanwhile, data from restaurant-booker OpenTable reflect a renewed decline in reservations. Economists at Oxford Economics say their recovery tracker, a mashup of about two dozen indicators, has stalled as consumers become more cautious and overall mobility declines.  

The Fed’s decision is also a real-time reflection of how officials view the economy’s biggest wildcard. Since the pandemic’s onset, Federal Reserve Chairman Jerome Powell has said that the path of the economy will depend on the course of the virus. In his press conference last Wednesday, he said successive Covid waves have had diminishing economic impact, but he acknowledged the risk posed by the Delta variant and future mutations. 

“As long as Covid is running loose out there, as long as there’s time and space for the development of new strains, no one’s really finally safe,” Powell said, noting that any pull back in activity, from indoor dining to school openings, may weigh on the economy.  “We don’t have a strong sense of how that might work out, so we’ll just be monitoring it carefully,” he said. 

The shift to a virtual symposium is having an effect, if small, on the local economy. Cory Carlson, regional director of marketing at the Four Seasons Resort and Residences in Jackson Hole, said his hotel has had a slew of cancellations due to the Fed’s change of plans. “This definitely has a short-term impact on the local economy,” he says, adding that the event typically brings a swarm of symposium attendees and journalists conducting interviews and broadcasting speeches. A desk worker at the Parkway Inn of Jackson Hole, meanwhile, said guests pulled reservations early last week as Covid cases swung higher.  

At the same time, the change of plans gives investors a dovish clue ahead of Powell’s speech on Friday morning.  

Investors and economists across Wall Street have for months had an eye toward the Jackson Hole summit for an update on the Fed’s plans to begin winding down the emergency bond-buying program it launched in response to the pandemic. Minutes released last week from the Fed’s July meeting showed officials started debating when and how to taper the $120 billion in monthly Treasury and mortgage-backed securities purchases, though officials were split on when to begin reducing those purchases and how aggressively they should do so.  

It is now clear that in the weeks since the July policy meeting, officials have grown more skittish about the recovery. Central bankers already inclined to delay purchase reductions are likely to argue increasing infections and hospitalization rates warrant further patience, while those on the fence have a reason to join the dovish camp. Even Dallas Fed President Robert Kaplan–the first official to publicly say the Fed should start cutting asset purchases sooner than later–recently said he may change his view if the Delta variant stalls the economic recovery.

It’s hard to argue rising Covid cases aren’t already affecting the recovery when policy makers themselves are scrapping travel plans. Investors worried about an official September taper announcement should find some relief in the Fed’s choice to hold a virtual Jackson Hole–though the flipside is a bearish message, inadvertent or otherwise, on the state of the economy itself.

Write to Lisa Beilfuss at lisa.beilfuss@barrons.com

When the Federal Reserve on Friday scrapped in-person plans for its Jackson Hole symposium, it sent a signal investors should heed.

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Economy Week Ahead: Housing, Inflation and the Fed

The Wall Street Journal 22 August, 2021 - 02:00pm

Federal Reserve Chairman Jerome Powell’s remarks at the central bank’s Jackson Hole economic symposium on Friday cap off a full week of economic data.

August surveys of purchasing managers in some of the world’s largest economies—including the U.S.—will offer the freshest indication of how the rapid spread of the Delta variant of Covid-19 is affecting economic activity. Economists expect to see a modest slowdown in the expansion of the services sector in both the U.S. and Europe and declines in activity in both Japan and Australia.

U.S. home prices hit a record in June amid a housing boom that is pitting low mortgage rates and strong demand against limited supplies of homes for sale. Economists are forecasting a small drop in existing-home sales in July, to an annual pace of 5.83 million from 5.86 million a month earlier, as price and supply constraints lock more would-be buyers out of the market.

U.S. jobless claims fell to a new pandemic low in the second week of August, a sign the labor market continues to improve despite rising Covid-19 cases and hospitalizations. Economists are forecasting little change in applications for unemployment benefits during the week ended Aug. 21, an outcome that would suggest layoffs are holding fairly steady as the summer unfolds.

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