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.
