The global economy sits on a knife-edge, balancing between the geopolitical inferno of the Strait of Hormuz and the cautious, wait-and-see posture of the world's most powerful central banks. As shipping lanes are choked by conflict and rerouted through high-cost overland detours, the European Central Bank (ECB) and the Federal Reserve are keeping their powder dry, signaling that while the immediate rate-hike path is on hold, they are ready to pivot on a dime if...