A spectacular mountainous region of the United States will this week provide the setting for central bankers to ponder decisions that will help shape the global economy over the coming months.

Officials from institutions including the US Federal Reserve, the Bank of England and the European Central Bank (ECB) will gather for the annual conference in Jackson Hole, Wyoming.

The meeting comes as the global battle against inflation enters a new phase and markets look for clues about where central banks go next after a series of interest rate hikes.

All eyes will be on Fed chairman Jerome Powell when he delivers a speech on the economic outlook on Friday.

Christine Lagarde, president of the European Central Bank, will also speak on Friday and Ben Broadbent, deputy governor of the Bank of England, takes the stage on Saturday.

Last year, Powell hammered home the Fed’s determination to get on top of inflation in a hawkish speech that promised to act ‘forcefully’ even as he acknowledged rate hikes would bring ‘some pain’ to households and businesses.

Today, the picture looks very different. Inflation in the US has fallen to 3.2pc – still above its 2pc target but much healthier than the 8.5pc level at the same time last year.

Europe has seen inflation fall too, while in the UK – though taking longer to tackle the price spiral – it has dropped to 6.8pc, from a peak of 11.1pc in October last year. Yet Powell is unlikely to be ready to declare victory.

Job numbers and the wider economy have not – until now – been hobbled in the way that many feared would need to happen to try to bring inflation down.

That will be welcome if it means a ‘soft landing’ – bringing inflation down without too many bumps.

But the worry is that signs of still strong wage growth and resilient consumer activity mean the inflation genie has not been entirely stuffed back into the bottle. It leaves rate-setters in a quandary about whether they should soon stop raising rates and how long they should remain there.

The wide-open prairies of the American West provide a suitably dramatic backdrop for the event, which runs from Thursday to Saturday.

In the past, film makers have taken advantage of the picturesque environs, shooting scenes for westerns such as Kevin Costner’s 1990 Oscar-winning blockbuster Dances With Wolves.

For central bankers it provides breathing space away from the hubbub of Washington, London and Frankfurt.

Neither US, UK or European officials have an imminent decision to make, with none of their next rate-setting meetings due until later next month.

But the market backdrop is tricky. Bond yields – the price investors charge for buying government debt – are rising amid growing expectations about interest rates staying higher for longer.

Andrew Hunter, deputy chief UK economist at Capital Economics, said mounting expectations of an ‘economic re-acceleration’ have set a ‘fraught backdrop’ ahead of Powell’s speech.

‘But with little evidence that stronger growth will threaten to reignite inflationary pressures, we don’t think there is any need for Powell to dust off his hawkish script from last year’s event,’ he added.

Ronald Temple, chief market strategist at asset manager Lazard, said: ‘Expect Powell to perform a balancing act of highlighting success to date in reducing headline inflation, while also acknowledging it’s too early to declare victory.’

Temple said Lagarde’s speech is also likely to be ‘straight down the middle of the fairway’, acknowledging that eurozone inflation at 5.3pc remains far too high but recognising that the ECB’s rate hikes so far ‘have not yet fully worked their way into the economy’.

Broadbent will focus on how UK real term incomes – how much people earn after the impact of inflation is taken into account – have changed, from the lead-up to the global financial crisis of 2008, to today.

It will include his views on inflation and the ‘second round’ effects – that is, when wages and prices rise in response, threatening a further spiral.

Michael Hewson, chief market analyst at investment platform CMC Markets UK, said: ‘Markets have been chopping around for several weeks now on the basis that for all the Fed’s hawkish rhetoric, the central bank is close to, or even at the end of its rate hiking cycle.

‘The key question appears to be less about how much further will rate rise, but for how long they will stay at current levels.’

Jimmy Anderson admits Stuart Broad’s retirement will ‘leave a big hole’ after England bowler’s fairytale Ashes farewell

By Adam Shergold for MailOnline

Updated: 01:55 EDT, 3 August 2023

Hop to it!

It’s that time of year when everybody starts scrambling to find the perfect beer garden with good drinks on tap, hearty pub grub and gorgeous views as a bonus. 

To get you there quicker, here we reveal England’s top 25 best beer gardens, as ranked by travel website Big 7 Travel.

To make the list pubs had to impress with their ambience, scenery and food and drink selection, with the final selection generated by analysing customer and critic reviews as well as editorial opinions, online presence, consistency, service, value for money, presentation, location and accessibility. 

10. THE FERRY INN – SALCOMBE, DEVON 

Built in 1739, The Ferry Inn is the oldest and most famous pub in Salcombe, says Big 7 Travel. 

It notes: ‘The historic pub boasts a pretty stone terrace that is so close to the waterfront you can practically touch the waves. There are at least a dozen or so large picnic tables outside with umbrellas for sunny days and fairy lights for when the sun goes down.’ 

Offering views of Salcombe’s estuary, beaches and undulating countryside, it is a ‘prime spot’ for people-watching too, Big 7 Travel reveals. 

9. THE CANAL HOUSE – BIRMINGHAM, WEST MIDLANDS

Of this pub-restaurant, which claimed the title of Best Pub in the Midlands at The National Pub & Bar Awards, Big 7 Travel says: ‘While it’s easy to see why customers rave about its hearty Sunday Roasts and live music, it’s the beer garden we’re interested in. 

‘Boasting brilliant views of the canal basin, with plenty of seating on the outdoor terrace, it’s the perfect place to soak in the sunshine with a drink.’

The website adds that ‘with over 60 beers in the ale inventory, an extensive cocktail menu and a wide range of soft drinks on offer, you won’t be stuck for choice either’.

8. THE SHIP INN – MUNDESLEY, NORFOLK

Overlooking the ‘golden sands’ of Mundesley Beach, The Ship Inn is described as ‘an idyllic seaside escape’. 

Big 7 Travel says: ‘The 300-year-old pub is beloved by locals and visitors for its tasty and unpretentious food and an excellent range of local beers.

‘The large beer garden is located at the back of the red-brick pub and offers dazzling views of the North Sea.’ 

7. THE WHEATSHEAF – COMBE HAY, BATH, SOMERSET 

‘Bath has its fair share of historic pubs, but not all of them boast views like those at The Wheatsheaf.’ 

So says Big 7 Travel of this pub, a ‘whitewashed farmhouse-turned pub’ that lies an ‘easy 15-minute drive from Bath’s city centre’. 

Pictures show the sprawling terraced gardens overlooking the ‘bucolic’ countryside and ‘some of the region’s prettiest villages’. Big 7 Travel notes: ‘The drinks list is excellent but the food is even better. Keep an eye on the calendar as there’s always something going on, from steak nights to summer parties.’ 

Reviewer ‘Jason M’ on Tripadvisor describes it as a ‘country pub of the highest quality’ and a ‘beautiful pub in a glorious location’. 

6. THE GARDENERS REST, SHEFFIELD, SOUTH YORKSHIRE

The Gardeners Rest is described as ‘a proper pub with a difference’, as it is Sheffield’s first community-owned pub. 

Punters can enjoy a drink overlooking the River Don in its beer garden, which is ‘one of the quirkiest in the country’, according to Big 7 Travel. 

Features include a flower-filled labyrinth of picnic tables, sculptures, vegetables, quirky sculptures and fireplaces, Big 7 Travel reveals. Writing on Tripadvisor, ‘Dawn G’ said: ‘A very interesting beer garden awaits you at the back of this pub. It is full of curiosities and a lovely flower garden with tomatoes growing along with quirky sculptures and fireplaces embedded into the fabric of the walls.’ 

5. THE DRUNKEN DUCK INN – AMBLESIDE, CUMBRIA

This Lake District gem is ‘set in a huge 400-year-old building in 60 private acres of rambling countryside’, offering ‘glorious fell views that stretch out for miles’, Big 7 Travel reveals. 

It says: ‘It’s a popular spot with walkers who hotfoot here after tackling the local peaks for brilliant beers brewed from the award-winning on-site microbrewery and a delicious daily changing menu. If you can’t face the walk home, there are 13 individually designed bedrooms to settle down into too.’ 

Writing on Tripadvisor, reviewer ‘CLP3210’ said that the pub lies ‘in a beautiful location’ and serves ‘excellent’ food. 

4. THE JOLLY FISHERMAN – CRASTER, NORTHUMBERLAND  

‘This award-winning pub pairs stunning sea views with fantastic food and good company,’ says Big 7 Travel.

When the weather gets hot, it recommends bagging one of the tables outside, ‘where the views extend past Dunstanburgh Castle and out to sea’. 

The website reveals: ‘There’s a good range of drinks to choose from but we recommend arriving hungry. What could be better than kipper scotch eggs, Shetland mussels and famous Craster crabs served with a sparkling sea view?’ 

3. THE PEOPLE’S PARK TAVERN – LONDON

Praising this watering hole, Big 7 Travel says: ‘The chaotic capital isn’t short on excellent beer gardens, but the People’s Park Tavern comes up trumps.’

It continues: ‘Overlooking East London’s beloved Victoria Park, the beer garden is one of the largest in London, with an indoor-outdoor greenhouse, seasonal barbecue kitchen, pop-up cocktail bar and tap wall.’ 

What’s more, the website notes that the pub boasts its own on-site microbrewery and has more than 70 beers on tap. 

2. THE RISING SUN – PENSFORD, SOMERSET

‘The Rising Sun is a mere 15 minutes away from Bristol’s city centre, but it feels worlds away thanks to its idyllic countryside location,’ Big 7 Travel declares. 

It continues: ‘Nestled at the foot of Pensford Viaduct by the River Chew, the large beer garden boasts stunning views and a lovely, laid-back atmosphere.’ 

Big 7 Travel notes that the Cornish brewery St Austell owns the pub, so there’s an ‘excellent’ selection of beers on tap. Plus, it describes the food menu as ‘fantastic and very reasonably priced’. 

1. THE WATERING HOLE – PERRANPORTH, CORNWALL

Describing The Watering Hole, the number-one-ranked pub, Big 7 Travel says: ‘The bar, restaurant and live music venue sit smack-bang in the middle of Perranporth’s golden sands, making it the UK’s only bar on the beach.’ 

The website continues: ‘Open all year round, it serves real ales from local breweries, cocktails and a wide variety of soft and hot drinks, including a dreamy hot chocolate. There’s a good range of beach-friendly grub on offer too.’ 

Not only that, but the venue ‘has become famous for its various live music events featuring lineups’, Big 7 Travel reveals, with Sam Ryder expected to perform this summer. 

For all the chaos going on down here on Earth, it’s easy to forget that we live in a volatile galaxy full of formidable dangers. 

From space rocks flying at thousands of miles per hour, to black holes that could rip our planet apart, sometimes it’s best not to think about them. 

But what would actually happen to the human body if we perished at the hands of these wild astronomical phenomena? 

MailOnline spoke to experts to find out – and to see if there’s any chance of them actually occurring while humanity still exists. 

Before any of them happen, Homo sapiens could be responsible for their own demise – likely by creating dangerous AI or the emission of greenhouse gases.

WHAT IF THE SUN DIED OUT?

Scientists estimate that our sun is about 4.5 billion years old – about halfway through its anticipated 9 billion or 10 billion year-long lifespan. 

When it starts to die, the sun will expand into a red giant, becoming so large that it will engulf Mercury and Venus, and possibly Earth too. 

Of course, in another 4 or 5 billion years’ time humans will likely be long gone, likely wiped out by a climate disaster or an asteroid impact.

However, in the event that we’re still here when the sun dies, the effects would be felt immediately and we would suffer a speedy demise. 

‘Assume the sun decide to quit, we would follow very quickly,’ Albert Zijlstra, a professor of astrophysics at the University of Manchester, told MailOnline.

‘The bottom line answer is you’d freeze to death.’ 

According to Professor Zijlstra, the closest Earth has seen to such an event was the era of ‘snowball Earth’, some 700 million years ago.

‘The entire world was frozen and the sea was covered in a kilometer thick ice from pole to pole, lasting 50 million years,’ he said.

‘Not much survived life that – and that was with the sun almost as bright as it is now.’ 

Even if we somehow survived the cold for a few days, plants and crops would die due to the lack of sunlight for photosynthesis – and we would surely starve. 

Thankfully, the sun is ‘remarkably stable’ and in no danger of disappearing, Professor Zijlstra added – and is actually very slowly getting brighter. 

‘It is not perceptible on human timescales, but give it a billion years and it becomes very noticeable,’ he said. 

WHAT IF EARTH FELL INTO A BLACK HOLE?

Perhaps one of the scariest features of the universe are black holes – regions of spacetime where gravity pulls so much that even light can not get out.

Black holes act as intense sources of gravity that hoover up surrounding dust and gas, as well as planets and even other black holes. 

They are often described as ‘destructive monsters’ because they tear apart stars, consuming anything that comes too close, and hold light captive. 

With light unable to escape black holes, Earth would have little chance either. 

Xavier Calmet, a professor of physics at the University of Sussex, said the gravitational force of a black hole would become so strong that we would experience ‘spaghettification’.

‘Your body will be stretched into a shape similar to that of a long pasta until it is reaped apart by the strong gravitational force,’ Professor Calmet told MailOnline. 

‘I can’t imagine that this would be pleasant – it would happen rather quickly, so if painful, it is unlikely to last long.’ 

Dr David L Clements, a senior lecturer at Imperial College London’s physics department, said ‘the end would likely be quick’ if falling into a black hole.  

‘It could come from asphyxiation if the atmosphere is stripped, or from the process called spaghettification where tidal forces stretch everything out into long strings – maybe briefly painful.’ 

Thankfully, the chances of Earth ever being swallowed by a black hole are ‘nearly zero’, according to Dr Clements. 

‘The fact that we’re still here shows that this hasn’t happened over the whole history of the Earth,’ he told MailOnline.

‘So the chances are at least less than once every 4.5 billion years and likely much much less.’ 

The closest black hole to Earth, called Gaia BH1, is around 1,600 light years away and is 10 times the size as our sun, experts recently revealed. 

WHAT IF OUR SUN COLLIDED WITH ANOTHER? 

You may not be aware that our Milky Way galaxy is on a collision course with another galaxy called Andromeda, which is currently around 2.5 million light years away. 

The two galaxies have a strong gravitational attraction and will merge in approximately 4 billion years’ time to create one new super galaxy, referred to by astronomers as ‘Milkdromeda’. 

Eric Bell, professor of astronomy at the University of Michigan, said ‘very likely nothing’ will happen to us in the event of the galaxy collision.

As the merger occurs, it’s likely the sun will be flung into a new region of our galaxy, but Earth and the rest of the solar system won’t be in danger of being destroyed. 

However, one potential danger of a galaxy merger would be a collision (or near collision) between our star with another star, although there’s an extremely small chance that would happen. 

‘There is a considerable uncertainty in when [the galaxy merger] will happen, roughly several billion years from now,’ Professor Bell told MailOnline. 

‘But galaxy collisions would only be dangerous because of a slightly increased chance of star collisions.’ 

Even a near collision with another star – a ‘close pass’ – would affect our orbit, which Professor Bell said would be ‘very bad’. 

‘The close pass changes the orbit, bringing us closer to the sun, or bringing us further away. 

‘What our fate would be depends on exactly how our orbit changed. 

‘So we would either escape the solar system (in which case we’d slowly freeze to death over months), or get cooked by the sun (which may be very fast, or take months, depending on the orbit we ended up in).’ 

WHAT IF AN ASTEROID HIT EARTH? 

A massive asteroid hitting Earth was famously the cause of the extinction of the dinosaurs around 66 million years ago. 

The so-called Chicxulub rock, around six miles in diameter, slammed into a shallow sea in what is today the Yucatán peninsula in Mexico. 

For those not killed directly by the impact, the collision released a huge dust and soot cloud that triggered global climate change, wiping out 75 per cent of all animal and plant species. 

NASA scientists think it would take an asteroid 60 miles (96 km) wide to totally wipe out life on Earth – about 10 times bigger than Chicxulub. 

According to a 2022 research paper by Jean-Marc Salotti at the University of Bordeaux, a 60-mile asteroid would ‘kill all lifeforms’ if it hit Earth, with the possible exception of extremophiles, those tiny lifeforms that can survive high temperatures, acidity and radiation. 

Such an asteroid would ‘transform the Earth into an inhospitable planet’, causing the extinction of many life forms including the human species. 

But the bigger the asteroid that hits us, the quicker the end would likely be. 

If a small one hit Earth today, there would be a huge amount of dust thrown up into the atmosphere that could block out sunlight – freezing us to death, which would likely be more drawn out and unpleasant. 

If it hit water, then there would be an increase in water vapour in the atmosphere, which would result in an increase in rain resulting in landslides and mudslides.

Regionally there might be earthquakes, hurricanes and tsunamis due to the increase in kinetic energy. 

Dr Kelly Fast, program manager for NASA’s Near-Earth Object Observations initiative, said asteroids have hit Earth before and ‘it will happen again’. 

‘Finding them early is important for advanced warning and to mitigate against potential future impact threats,’ she said. 

WHAT IF EARTH’S ATMOSPHERE DISAPPEARED? 

Earth’s atmosphere is described as its ‘security blanket’ because it contains the oxygen we need to exist, making the air breathable. 

It also protects us from harmful ultraviolet solar radiation from the sun and creates the required pressure for liquid water to exist. 

If this precious multi-tiered atmosphere somehow disappeared, most vertebrates, including humans, would suffocate in seconds. 

Marine creatures, which rely on oxygen dissolved in the water, may last a little longer – although the seas would also boil into vapour due to the sun’s rays. 

In the event of the atmosphere disappearing, we may have to build radiation-shielded domes that provide a pressured environment and plentiful oxygen. 

But is there any chance of this actually happening? 

A 2021 study in Nature Geoscience concluded that Earth’s oxygen-rich atmosphere will be lost in about 1 billion years, but this will happen gradually as the sun gets hotter.

Carbon dioxide levels in the atmosphere will drop due to the gas absorbing the heat and breaking down, leading to death of plant life and in turn reduced oxygen production. 

All in all, it seems like the most realistic dangers to humanity are the ones of our own making – such as greenhouse gas emissions and killer robots. 

According to one academic, there’s a 50 per cent chance artificial intelligence will wipe out humanity, and it could happen in a similar way to how humans wiped out extinct animals such as the Dodo. 

The death of the jacket spud: Children today have never tried classic teatime staples like toad in the hole, spaghetti hoops and chicken dippers as families opt for avocado instead – is your childhood favourite at risk of vanishing from the dinner table?

• Parents said many of the things they ate as a child are simply not healthy enough 

By Danya Bazaraa

Published: 06:55 EDT, 1 June 2023 | Updated: 07:48 EDT, 1 June 2023