Don Kohn’s infamous ‘death march’ hikes were referenced in Kevin Warsh’s Jackson Hole speech—now the Fed veteran is weighing the chairman’s path ahead
Source: Fortune ·
"The hiking ... was an important chance to trade ideas, find out what's going on inside another central bank, what they're thinking about."
From the source
A couple of years after the financial crisis, Kevin Warsh, Mark Carney, and Donald Kohn laced up their hiking boots and headed out of the hubbub that is the Jackson Hole Symposium. In the wilds of Wyoming, they might have hoped—though couldn’t have known—that one among them would go on to lead the Federal Reserve, and another would become the Prime Minister of his native Canada. At the time, Kohn was the vice chair of the Federal Reserve Board of Governors and, for his part, was unaware that his famously rigorous expeditions had earned the nickname of “death march” among his peers.A little over a decade later, Kohn watched on as Warsh, his close former colleague, invoked the spirit of these hikes in his inaugural speech as central bank chairman at Jackson Hole in August. “As I learned years ago, you can take two different kinds of hikes on the trails around Jackson Hole,” Warsh opened with. “I can sum up my hikes with former Vice Chairman Don Kohn in two words: I survived. These…