We are back in Jackson Hole! This year's Federal Reserve Bank of Kansas City symposium on monetary policy might be one of the most interesting editions in years. It marks the first under new Fed Chairman Kevin Warsh, and Fed observers will be closely watching his Friday speech for signs of how he might distinguish himself, and the institution he leads, from the Jerome Powell era.

The meeting comes at a tense time for monetary policy in the US and abroad: high bond yields, above-target inflation, and AI's still unrealized effect on broader parts of the economy like the job market.

As in past years, we speak with Jeffrey Schmid, president and CEO of the Kansas City Fed, about what to expect this year. He also shares thoughts on the wave of baby boomer retirements and its effect on the labor force, his recent FOMC votes, and explains why this symposium is so focused on payments.