Finance

Kevin Warsh officially took the oath of office as Chairman of the Federal Reserve on May 22, 2026, succeeding Jerome Powell. His term begins amid significant political pressure to lower interest rates, even as recent data shows an accelerating trajectory for inflation. Markets are closely watching for Warsh's first policy steps as he navigates a complex economic landscape clouded by geopolitical tensions.

Crude oil prices posted a significant weekly loss as investors reacted to reports of progress in peace negotiations between the United States and Iran. Brent crude settled near $103.54 per barrel, down more than 5% for the week, while U.S. West Texas Intermediate fell over 8%. Despite the weekly decline, prices saw a minor bounce on Friday as traders weighed ongoing disagreements over the Strait of Hormuz.

Treasury yields stabilized on Friday, with the 10-year note finishing at approximately 4.56%, providing some relief to equity markets. Meanwhile, the 2-year yield rose slightly to 4.126%, marking its fifth consecutive weekly gain and reaching a new 52-week high. The flattening of the yield curve reflects ongoing market uncertainty regarding future Federal Reserve rate hikes and inflationary risks.