Fed Meeting Recap: Interest Rates and Inflation in Focus

The July Federal Reserve meeting kicked off on Tuesday, July 28, and concluded on Wednesday, July 29. During this period, oil prices remained volatile due to ongoing tensions between the U.S. and Iran.

Crude futures were lower at the start of Fed week but have risen around 20% for the month of July, which is expected to keep headline inflation readings high in the short term.

Wall Street is closely watching what Federal Reserve Chair Kevin Warsh and the FOMC decide regarding interest rates. The post-meeting press conference will provide insight into the changes Warsh is making at the central bank.