The theme of this year's Jackson Hole Global Central Bank Annual Meeting is: 'Structural Shifts in the Global Labor Market: Demographics, Productivity, and Policy.' Meanwhile, Powell's speech at 10 PM tonight is titled: 'Economic Outlook and Policy Framework Review.' Jackson Hole has always been seen as a policy weather vane for the Federal Reserve. Over the past five years, it has almost annually marked a 'policy turning point': hinting at easing in 2019, introducing the Flexible Average Inflation Targeting (FAIT) framework in 2020, continuing easing in 2021 leading to misjudgments, shifting to aggressive tightening in 2022, signaling the end of rate hikes in 2023, and releasing hints of rate cuts in 2024. The theme of Powell's speech suggests that, in addition to sharing views on the economy, inflation, and employment, Powell may partially reverse the Flexible Average Inflation Targeting (FAIT) policy introduced at the 2020 meeting and revisit the Fed's policy framework. This is worth paying attention to, as changes in the policy framework could also mean shifts in the future path and pace of policy adjustments.