Oil prices higher as US-Iran tensions flare and Warsh fans rate hikes
- Asian stocks fell on Monday as hawkish comments from Federal Reserve boss Kevin Warsh saw investors ramp up bets on a US interest rate hike, while oil prices spiked after a fresh flare-up in the US-Iran war.
- With inflation remaining stubbornly high - largely on the back of elevated energy costs - the US central bank has come under pressure to act, and Warsh's refusal to provide guidance has stoked uncertainty.
- But in a highly anticipated speech at the Jackson Hole symposium of central bankers and economists in Wyoming, he left traders with few doubts that he was ready to increase borrowing cos
Unverified
- Asian stocks fell on Monday as hawkish comments from Federal Reserve boss Kevin Warsh saw investors ramp up bets on a US interest rate hike, while oil prices spiked after a fresh flare-up in the US-Iran war.
- With inflation remaining stubbornly high - largely on the back of elevated energy costs - the US central bank has come under pressure to act, and Warsh's refusal to provide guidance has stoked uncertainty.
- But in a highly anticipated speech at the Jackson Hole symposium of central bankers and economists in Wyoming, he left traders with few doubts that he was ready to increase borrowing cos
Sources: Euronews