Torsten Slok expects ECB to consider another hike in September due to second-round effects from energy costs, while the Fed under Kevin Warsh will proceed cautiously. He sees rates higher for longer given strong AI-driven growth tailwinds. A stock market correction could hurt high-end US consumers who drive 40% of spending.

Philip Lane says the ECB will not lock itself into a rate path. Oil prices have reverted to pre-war levels but may stay above pre-war levels for years due to restocking demand. Second-round effects from energy costs percolating into food and services inflation remain uncertain. The ECB will go meeting by meeting.

Tobias Adrian warns that AI accelerates cyber attack speed from months to minutes, creating vulnerabilities especially for smaller firms. The key medium-term risk is the interconnectivity between fiscal fragility (global debt approaching 100% of GDP) and financial stability. AI equity concentration is a concern but primarily equity-financed, not systemic like leveraged shadow banking.

Jim O'Neill advocates for constitutional economic devolution to boost UK growth, citing Manchester's success growing 3x faster than London. He opposes splitting the Treasury, favors an infrastructure version of the OBR for transparency, and strongly opposes equalizing capital gains tax with income tax, especially for venture capital.