Almost every financial headline you read the next two days will mention Jackson Hole, the stunning Wyoming region that becomes the capital of the macroeconomic world every August. But this year's gathering of central bankers and economists could be more important than it's been in a very, very long time.

Federal Reserve officials sounded cautious in interviews and speeches as the central bank's Jackson Hole meeting kicks off this evening. At the same time, a former Fed official on the White House's list to replace Fed Chair Jerome Powell backed aggressive easing.

Gold edged down as investors awaited the Federal Reserve’s Jackson Hole gathering for clues on the path for US interest rates.