Fed Meeting Looms Large as Inflation Concerns Send Markets into Turmoil

The Federal Reserve is set to meet on Tuesday to address high inflation, which has led to increased pressure on President Donald Trump ahead of midterm congressional elections.

Oil prices have jumped, with crude futures pushing towards $110 a barrel, and US bond yields have rallied as the Fed considers hiking interest rates to tackle persistently high consumer prices.

Susannah Streeter, chief investment strategist at Wealth Club, noted that there's no let-up in the volatility rippling through financial markets, with energy prices staying painfully elevated and worries swirling about the knock-on effect for inflation and interest rates.