Übersicht
Each week, I provide my views on the global macroeconomic environment, with a look ahead to the coming week and a look back at the previous one. Breaking down the top macro headlines around the world, I explain the key implications for investors—and what I think the mainstream news outlets could be missing. This week’s highlights include:
- Fed Chair Kevin Warsh delivered his first Jackson Hole address, reiterating his intention to bring inflation down to the 2% target.
- The US-Iran standoff continued, but Strait of Hormuz shipping volumes appear to be increasing. Importantly, the risk of a sharp escalation in hostilities appeared to decline, with reports suggesting that the United States plans to rely on economic pressure rather than kinetic military action to compel Iranian concessions.
- The US PCE inflation was largely in line with expectations, but with inflation above the 2% target for over five years, I believe the Fed will be forced to hike rates to reaffirm its inflation-fighting credibility.
Important Information
Published on 28 August 2026.
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