Markets Now Face Two Wars And Two Economic Wars

By Michael Every of Rabobank Two wars and two economic wars Friday’s Jackson Hole speech from Fed Chair Warsh would traditionally be the big event this week but that’s arguably no longer true: the action is not with central banks but elsewhere. I don’t mean the ECB’s Lagarde going to work for the WEF. Rather, markets now face two wars and two economic wars. Dawn in the US will see what Treasury Secretary Bessent calls ‘Economic D-Day’ designed “to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone.” Until the regime collapses – and everyone must…