If in a country the central bank governor has to publicly deny having carried out a covert coup d'état to overthrow a democratic government, it is logical to think that the country may have a problem with its central bank – and with the governor in question–. This is exactly what Andrew Bailey, governor of the Bank of England, had to do in November 2022, following Liz Truss's resignation as Prime Minister of the United Kingdom just 44 days after taking office. As if Truss's bad luck were not enough, during her brief tenure, Queen Elizabeth II died.

When it is said that something can happen, it is likely to end up happening. This expression, used to refer to self-fulfilling prophecies, is common in the economic world. Throughout history, the belief that an event will occur has precipitated events. The list of examples is long: stock market crashes, compulsive consumer purchases, or deposit withdrawals are just a few. And citizens' expectations for controlling inflation are also a factor to consider.

What makes a meeting in a valley in the state of Wyoming, in an idyllic setting, so important? What makes the markets so focused on this annual gathering organized by the Federal Reserve Bank of Kansas City under the protection of the Rocky Mountains, which begins today, Thursday, and ends on Saturday? Interest during these August dates is always high, because this conclave is attended by central bank governors from the world's leading countries, along with finance ministers and business leaders. This is not surprising, because many pragmatic issues, such as whether mortgages will become more or less expensive and whether there will be more or less credit to invest in, depend on what is discussed at this meeting without ties and in a relaxed and discreet atmosphere, not only in the US but globally.