Finance

In the first FOMC meeting chaired by Kevin Warsh, the committee unanimously voted to hold the federal funds rate in the 3.5% to 3.75% range. While some analysts expected a pivot toward cuts, the Fed reaffirmed its commitment to price stability amid persistent inflation concerns. The meeting also marked a shift toward a less communicative policy framework, with leadership focusing on long-term stability rather than immediate rate adjustments.

Shares of SpaceX experienced significant price swings after its recent blockbuster IPO, where it briefly became the fourth-largest company by market capitalization. As the market reopened after the Juneteenth holiday, the stock faced a multi-day slide, falling as much as 4.6% in premarket trading. The volatility is attributed to a low public float and intense interest from retail investors during its first full week of trading.

Crude oil prices weakened in early trade on June 22 as progress in peace talks between the United States and Iran eased supply concerns. Brent crude fell roughly 1.6%, supported by reports that tankers continued to transit the Strait of Hormuz without disruption. This retreat follows an earlier energy shock that had driven U.S. inflation to a fresh high of 4.2% in May 2026.