Fed Chair Kevin Warsh to hold first rate-setting meeting and press conference on Wednesday

Federal Reserve Chair Kevin Warsh will chair his first policy meeting and hold a press conference. Inflation has risen to 4.2%, the highest since April 2023, after the Iran war that began in late February pushed up oil and gas prices. Markets broadly expect the Fed to keep rates unchanged, though the dot plot may show some officials projecting rate hikes later this year. That would reinforce expectations of tighter policy and weigh on commodities, especially crude oil.