The Federal Reserve, led by Kevin Warsh, implemented its first interest rate hike in three years, signaling a shift toward further monetary tightening. Despite President Trump’s demands for rates to be cut to 1% or lower, analyst Dan Ives noted the Fed had no choice but to raise them, though he described the move as a 'gut punch' to the market. Following the decision, gold and silver prices rose amid a modest pullback in Treasury yields, while mortgage rates approached 7%. Economic pressures mounted as record diesel prices and housing affordability concerns weighed on market sentiment.
