Jackson Hole Summit To Provide Forum For Policymakers Amid Market Turmoil

This week, the world's top central bankers will descend on Jackson Hole, Wyoming where they are set to

. The meeting couldn't come at a better time, as global markets have been in a state of panic this week after worries about China sent share markets markedly lower. While the annual meeting was initially set up to give policymakers a chance to have academic discussions ahead of major policy decisions, in more recent years it has been used as a forum at which central bankers can preface their upcoming moves. This year, traders will be listening intently for comments from the meeting as they look for any sign of relief from the market's uncertainty.

Federal Reserve Chair Janet Yellen will be notably absent from the meeting, but Vice Chairman Stanley Fischer is set to speak this weekend. Fischer is expected to discuss inflation, something many worry could be affected by China and will force the bank to postpone its rate hike plans. The bank was initially expected to raise interest rates at its September gathering, but most expect that Fed officials will hold off in light of the current global economic situation.

The European Central Bank will also be closely watched during the Jackson Hole summit, as the bank's own worries about the stability of the eurozone have been magnified by the recent events in China. ECB President Mario Draghi will also be MIA over the weekend, but other senior officials are set to attend. The ECB has been pumping cash into the eurozone's financial system through a stimulus program since January, but the effects of the plan have been varied. Many believe that with market turmoil weighing on the region as well, the bank will be pressured into doing more to kickstart the eurozone economy.