NIMBYism Could Save AI From a Bust Like the Dot-Com Era

Published on August 13, 2026

A robust industrial rebound is underpinning the economy, and it has powered through an energy shock from the US-Iran war; elevated inflation that’s kept interest rates high and homebuilding low; and a bout of new, perhaps more permanent tariffs.

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Fed and Treasury Update: Higher-for-Longer Yields

August 13, 2026
The risks of a rate hike have increased lately, but we don't believe we're there just yet. If the data changes—specifically if inflation comes in hotter-than-expected over the next few months—we'll likely change our view.

The World Economy Is Swerving, and the Destination Is Unknown

August 13, 2026
The days of unfettered globalization, multilateral rule of law, commonly accepted limits on economic statecraft, and widely shared macroeconomic objectives are now long gone. A perpetual, directionless transition is our new reality, and corporate executives, investors, and policymakers must adapt accordingly.