Climate change alters life at Fed's Jackson Hole conference

JACKSON HOLE, Wyoming (AP) — When officials of the Federal Reserve Bank of Kansas City sought a location for an annual economic symposium in 1981, they chose Jackson Hole, Wyoming, for a simple reason: It had fly-fishing.

Paul Volcker, the Fed chairman at the time, was known to enjoy the pastime, and it was hoped that the opportunity to do some fishing would draw Volcker away from Washington, D.C.'s late August heat. The ploy worked, and the Fed has held a conference there in late August ever since.

Now, though, warmer waters in Jackson Lake and the Snake River it empties into have led the Park Service to urge anglers to restrict their fishing to the morning hours. Catch-and-release fishing, the most common practice here, is harder on the fish when water is warmer, and the fish are also harder to catch later in the day.

It is just one example of how the consequences of climate change are now in plain view to Fed officials during their annual summer symposium in Jackson Hole. Wyoming’s Teton County has been afflicted by the same long-term drought that has lowered rivers and reservoir levels throughout the West.

Some water activities typically enjoyed by visitors to the Jackson Lake Lodge, where Fed officials are convening, have been canceled this summer. The Colter Bay Marina has been closed because of low water levels, an economic blow to the small businesses that rent motorboats and other equipment.

Many academic economists and central bankers from around the world attend the Fed's conclave in Jackson Hole, a valley nestled amid the majestic Teton mountain peaks. The signs of climate damage are among the ways in which the region's challenges are evident alongside the idyllic setting. The nearby town of Jackson is also struggling with soaring home prices, labor...