π₯ US-Iran clash boosts rate hike bets
The US-Iran conflict has reignited, causing oil prices to spike to one-month highs. This geopolitical tension coincides with hawkish comments from FOMC Chairman Warsh at Jackson Hole. Investors are now significantly raising the probability of a Federal Reserve rate hike in September. Separately, President Donald J. Trump declared Iran a failed nation, alleging 300% inflation and over 100,000 protester deaths. The dollar remained steady near a two-week high as markets awaited further Fed signals. π