How a swap line for Persian Gulf allies would break with the past

The U.S. Federal Reserve may extend dollar liquidity swap lines to Persian Gulf allies like the UAE, Qatar, and Bahrain, marking a strategic shift from past uses focused on financial stability to bolstering key regional partners. This move contrasts with earlier swap lines during crises like 2008, which targeted G7 and trusted central banks to prevent systemic risks to the U.S. economy.