Finance

In the first meeting under Chair Kevin Warsh, the Federal Reserve maintained interest rates between 3.5% and 3.75% but adjusted its forward-looking 'dot plot' to reflect higher expectations. Nine of eighteen officials now project at least one additional rate hike by the end of 2026, shifting market expectations toward a potential increase as early as September.

Leading technology indexes recently posted gains of nearly 2% as investors returned to artificial intelligence and chipmaking stocks following a broad selloff. Companies like Intel and Micron have seen significant activity, with Intel gaining attention due to new domestic chip-building initiatives alongside Apple.

Energy markets have seen Brent crude settle near $79.85 per barrel following a memorandum of understanding between the US and Iran aimed at reopening the Strait of Hormuz. While US crude oil inventories saw a sharp drop of over 8 million barrels, the overall decline in oil prices from recent highs has provided some relief to consumer inflation concerns.