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:
- With the Iran conflict now in its third month and indirect diplomatic negotiations making little headway, the likelihood of a short, sharp escalation has risen.
- Federal Reserve Chair Jerome Powell announced he will remain a Fed Board member after his term as chair ends, depriving President Donald Trump of the opportunity to replace his position.
- The European Central Bank (ECB), Bank of Japan (BoJ), and Bank of England (BoE) held rates constant. All three central banks emphasized upside risks to inflation and downside risks to growth, but each arrived at this juncture from different starting points. The ECB had successfully steered inflation back to its 2% target, the BoJ tried to avoid reducing inflation too much, and the BoE was still grappling with higher inflation.
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Published on 1 May 2026.
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