Finance

In his debut meeting as chair, Kevin Warsh led the Federal Open Market Committee to maintain interest rates between 3.50% and 3.75% while signaling a potential hike later this year. The central bank removed previous language implying future rate cuts and raised inflation projections for the end of 2026 to 3.6%.

Crude oil prices fell sharply, dropping roughly 13% for the week as a framework to end the conflict between the United States and Iran began to materialize. Brent crude settled near $80 per barrel as maritime traffic resumed through the Strait of Hormuz, significantly easing global energy supply concerns.

Digital assets faced downward pressure as the prospect of higher-for-longer interest rates reduced the appeal of non-yielding assets. Bitcoin slipped toward $62,000 while Ethereum fell more sharply, underperforming the broader market due to persistent exchange outflows and increased correlation with tech stocks.