Geopolitical events
On June 29, 2026, the U.S. Federal Reserve implemented an emergency 50--basis--point interest rate hike, raising the federal funds rate to its highest level in 25 years. This intervention is a direct response to the "West Asia War," which has driven Brent crude prices above $140 per barrel and significantly increased global inflationary pressures. Chair Jerome Powell characterized the decision as a "decisive action to preserve price stability" amid unprecedented energy market volatility. The move has triggered a sharp appreciation of the U.S. dollar and prompted emergency liquidity measures from several G20 central banks to stabilize international bond markets.