The district reserve banks of the Fed very often had unexpected performance and their success is just working as infamous institution, but people misunderstood that it was organized by an international well known institution. Just like ugly duckling suddenly turn out as a swan.
The Federal Reserve is famous for its FOMC meeting which is 8 times a year, but recently market has one more focus which is the annual meeting. Normally, people thought it should be a meeting held by the head office in DC, or some people called it meeting of international central bank governors, may be organized by an institution somewhat like G7.
Actually, it is a meeting organized by district no 10 Kansas City, in a resort hotel of Yellow Stone National park. Each district hank has the right to organize any forum or activities as they like. It is just a district activity by a regional bank. The FOMC meeting has 8 times year, normally the interval is 6 weeks, but there are 52 weeks. (6 X 8 = 48, therefore the interval during summer holidays and Christmas are longer than usual). So the Kansas City Fed use it to invite the chair of the Fed to come for meeting and also invite one or two more central bank presidents from aboard to come tor forum. Every year would have different guests, but the Fed chair is essential.
In 2012, Ben Bernanke announced his QE2 policy to save the economy from Financial Tsunami in this meeting for the interval is too long and can’t wait for the FOMC meeting. QE1 lasted from December 2008 to 2010, and it’s time for QE2. In that year, there was a famous Hollywood movie named 2012 which tells the end of the world starts in the Yellow Stone National Park, that is where this annual meeting runs. Thus made it more thrilling for some people just afraid of the end of the world. Anyway this meeting is turning the Kansas Fed from ugly duckling to swan. This is also part of the American Dream where you can turned from rags to rich if you have actual power and can grasp the chance.