Odaily Planet Daily reported that the theme of this year's Jackson Hole Central Bank Annual Meeting is "Reassessing the Effectiveness and Transmission of Monetary Policy", and will talk about the strong momentum of the US economy despite interest rate hikes of more than 5 percentage points, as well as its defiance of numerous recession forecasts. Compared with past interest rate cycles, monetary policy may not have as much impact on the real economy, due both to the legacy of low interest rates that prevailed from 2009 to 2022 and to structural changes in the economy. Millions of homeowners still hold 30-year mortgages with interest rates below 4%, and businesses are also taking advantage of ultra-low interest rates to refinance and extend loan terms before rate hikes. In fact, many of the largest American companies are net interest income earners. (Barron's)