The U.S. Federal Reserve's pivot toward the labor market in 2020 will get a reboot on Friday when Fed Chair Jerome Powell is expected to release a new framework for the central bank that accounts for a half-decade in which inflation surged,

The annual economics symposium, which begins Thursday, brings together top monetary policy officials from around the world and always makes headlines in the financial press. There are at least three reasons the conference is worth paying attention to this year.

Jerome Powell will address the state of the U.S. economy — and perhaps offer hints about interest rates — in a closely watched speech this week. Here's what to expect.