Maritime Pressure Points

Published on September 2, 2026

Most people experience transportation through roads and airports. Traffic jams on highways and delays at major hubs are familiar frustrations. But the world's most important transportation network lies largely out of sight.

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Warsh Gets an A: Re-focused Fed on the Right Key Principles

September 2, 2026
Kevin Warsh’s Jackson Hole speech was notably hawkish. But I came away from the speech even more confident in Warsh and thought it was one of the best speeches I’ve heard from a Federal Reserve chair. Most importantly, Warsh is refocusing on factors missing from the Fed’s framework for years: an explicit recognition that money supply and bank credit matter for the Fed’s inflation outlook.

Charts for the Beach

September 2, 2026
This summer has delivered "blockbuster" returns, both positive and negative, while the possibility of quick and seemingly easy gains continues to draw investors toward speculative areas of the market. In his latest insight, Richard Bernstein, Global Head of Macro & Customized Investing, shares five charts that cut through the noise and highlight important shifts in credit creation, inflation, glob