1. Fed Governor Waller stated he does not expect to support a rate cut in the near term and is concerned about rising inflation expectations, ready to back a rate hike if expectations become unanchored.
2. Market pricing now fully reflects a 25 basis point Fed rate hike by the end of 2026, with some traders anticipating a hike as early as October.
3. The Dow Jones hit a record high, S&P 500 and Nasdaq climbed, while gold and platinum prices fell, amidst gains in the US dollar and Treasury yields.
Fed's Hawkish Stance Fuels Rate Hike Bets, Boosts Equities, Dents Precious Metals
