Fed Holds Rates Steady Amid Ongoing Conflict

The Federal Reserve held interest rates steady in its latest decision, as Chair Kevin Warsh emphasized the need to control inflation. This move comes amidst a volatile week for US equities, with conflict ongoing in the Middle East.

Inflation remained a concern, with core PCE coming in at 3.7% in line with expectations. The Eurozone saw its inflation rate rise to 2.9% in July, driven by higher energy costs.

The Bank of England kept interest rates on hold, but a growing number of policymakers voted for a hike amid continued uncertainty over the war's impact on inflation.