American economist; President of the Peterson Institute for International Economics since 2013
The United Arab Emirates is pursuing a new port and container terminal on Fujairah’s east coast to reduce dependence on Jebel Ali and avoid the Strait of Hormuz. DP World is in talks to develop the site, with plans for a new multipurpose port and a terminal at the existing harbour, amid ongoing clashes linked to Iran’s attacks and U.S. and Israeli actions. Experts say the move signals a push for regional resilience as shipping routes face disruption.
Global central banks face renewed pressure as governments squeeze independence to manage debt, raising inflation risks and market volatility. Jackson Hole gathers policymakers amid debates on inflation, debt, and the boundary between fiscal and monetary power.
The US Treasury has doubled long-dated bond purchases to push down yields, triggering reaction across markets. Investors weigh the effectiveness of this intervention against rising debt levels and potential long-term consequences for credibility. Gold and the dollar move in response as debates over fiscal policy intensify.
Federal Reserve Chair Kevin Warsh has told the Jackson Hole symposium that recent inflation readings have not shown that underlying trends have meaningfully improved and that short-term rates remain the Fed's primary tool. Markets have pushed up Treasury yields and raised odds of a September rate increase as officials debate whether to tighten policy.