Finance

New Fed Chair Kevin Warsh and other policymakers have signaled that a rate hike may still be necessary by the end of 2026 to combat persistent inflation despite holding rates steady this week. This shift toward a higher-for-longer policy outlook has pushed the US dollar to one-year highs and pressured non-yielding assets like gold and silver.

Energy prices have eased as shipping traffic through the Strait of Hormuz begins to normalize following a US-brokered peace agreement with Iran. WTI crude settled lower at approximately $76.60 a barrel, contributing to US gasoline prices dipping below $4 a gallon for the first time since March, though analysts remain cautious about the long-term stability of the region.

Bitcoin and Ethereum prices continued to slide today, falling roughly 2% to 3% as the crypto market reacted to the Federal Reserve's hawkish policy signals. While equity markets drew some optimism from geopolitical developments, digital assets were weighed down by a strengthening dollar and the prospect of elevated borrowing costs through the remainder of 2026.