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Iran launches strikes on Gulf states day after US threatens oil assets Euronews.comTrump warns of more strikes on Iran's Kharg Island, pressures allies to secure oil chokepoint ReutersOil Market Set for Tumultuous Week as Kharg Attack Raises Stakes Yahoo FinanceTrump news at a glance: president says Iran's Kharg Island ‘demolished' and threatens more strikes ‘just for fun' The Guardian
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'Peak war panic' will likely hit markets in 1-3 weeks, as Trump balks at ceasefire deal FortuneMarket Stress Nears Tariff-Shock Level as Iran War Hits Assets Bloomberg.comThe war is not over even if the stock market wants it to be AxiosHow the Middle East war could spark a recession CNNMARKET CALL: The War Is Getting Foggier Yardeni QuickTakes
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Trump news at a glance: president says Iran's Kharg Island ‘demolished' and threatens more strikes ‘just for fun' The GuardianTrump warns of more strikes on Iran's Kharg Island, pressures allies to secure oil chokepoint ReutersOil Market Set for Tumultuous Week as Kharg Attack Raises Stakes Bloomberg.comIran's Kharg Island Attack Triggers Panic In China: Why It Matters To Beijing NDTV
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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