Wash: AI pushes up prices but not necessarily inflation; no inflation metric is precise, and Trump has not attempted to interfere with the Federal Reserve.
Worshe acknowledged that June CPI and PPI data showed improvement, but noted that inflation indicators do not perfectly reflect underlying inflationary conditions. He stated that one-off price changes do not necessarily lead to sustained inflation, and emphasized that the inflationary impacts of AI and external conflicts are fundamentally different when viewed through the lens of market supply-side responses. The AI boom has already driven up prices for chips and other components, and prices could rise further over the next 12 months; whether this evolves into broader inflation will depend on the Federal Reserve's actions. He added that he has 'repeatedly' told Trump that he is independent, that Trump has never asked him to do anything improper, and that if such a request were ever made, he would not comply.
Iran Can Afford to Wait, Trump Cannot: A Strait of Hormuz Endurance Contest Under the Shadow of Midterm Elections
The extraordinary significance of this round of conflict lies in its potential to determine who controls the Strait of Hormuz.
U.S. Oil Inventory Draws Raise Concerns -- Market Talk
U.S. Treasuries rose as the PPI report bolstered confidence that inflation has peaked.
U.S. Treasury prices rose after the producer price report reinforced market optimism that U.S. inflation has peaked, potentially reducing the need for further Federal Reserve rate hikes. The rally in Treasury prices pushed yields on shorter-dated Treasuries—which are more sensitive to Fed rate expectations—down by as much as 3 to 4 basis points. On Tuesday, U.S. Treasuries posted their best single-day performance in three weeks following a consumer price report showing inflation cooled by more than economists had forecast. Comments from John Williams, President of the Federal Reserve Bank of New York, after the release of the producer price data also fueled the rally. In prepared remarks for an event in New York, Williams stated that although inflation
Express News | Iran: No Negotiations Planned at Present; Focused on Defense
It's Time to Buy Commodities, This Pro Says. Why Copper Could Be a Standout. -- Barrons.com
US Total Crude Oil Stocks Decline in Week Ended July 10
USA Crude Oil Inventories 1.692M Barrel Draw Vs 1.800M Barrel Draw Est.
PPI declined, U.S. Treasury yields rose, and gold prices stabilized above USD 4,000.
During the U.S. trading session on Wednesday (July 15), spot gold edged higher, while spot silver weakened. Broadly cooling U.S. inflation data provided support for precious metals, but renewed tensions in the Strait of Hormuz pushed up crude oil prices and U.S. Treasury yields. Spot gold traded near USD 4,061.70 per ounce, up 0.25%, while spot silver was quoted at USD 58.14, down 0.74% on the day. Gold fluctuated within a range of USD 4,016.60–4,066.90 during early trading, holding above the USD 4,000 mark but still unable to break through the resistance zone of USD 4,090–4,140 defined by its latest technical pattern.
Gold Steady as Dollar and Yields Drop After US Wholesale Prices Fell in June
Rise in Gilt Yields Driven by Global Factors Rather Than Domestic Risks -- Market Talk
Wholesale Inflation Posts First Drop in Almost a Year as Gas Prices Decline
The U.S. military stated it carried out a 90-minute strike against Iran.
On the 15th, U.S. Central Command posted a statement on social media announcing that U.S. forces completed a 'morning strike' against Iran at 7:30 a.m. Eastern Time on the 15th (7:30 p.m. Beijing Time).
WTI at $80, U.S. Treasuries at 4.6%, Gold at $4,000: Behind These Three Figures, Markets Are Betting on the Same Outcome
On Wednesday (July 15), geopolitical tensions in the Middle East remained the market’s focal point. Trump’s military threats against Iran and developments in the Strait of Hormuz continued to fuel a high risk premium in crude oil, with WTI oscillating sharply around the $80 mark. Gold held firmly at the psychological $4,000 level as safe-haven demand clashed intensely with upward pressure from rising interest rates. U.S. Treasury yields hovered at elevated levels amid inflation concerns, leaving market sentiment taut as participants awaited fresh signals of conflict and key economic data. Beneath the seemingly chaotic price action lies a remarkably clear set of drivers: geopolitical fear, interest rate expectations, and physical supply-demand dynamics are now engaged in a full-scale tug-of-war. This article will cut through the noise and integrate real-time insights to provide clarity.
The sovereignty dispute over the strait remains unresolved, oil prices have shifted to a higher baseline, but the upside potential for a rebound has already been capped.
During the Asian and European sessions on Wednesday, international crude oil prices continued to experience a modest rally followed by a pullback, yet the overall price level has persistently shifted upward. WTI crude is currently trading around $80.09, up 0.95%. Yesterday’s article estimated that under a scenario where tolls are charged but navigation remains permitted, WTI prices could fluctuate within the $80–$85 range. However, given that passage through the strait has not resumed, prices may continue to oscillate with repeated upward movements. The ongoing military standoff between the U.S. and Iran remains in a state of flux, with neither side able to reach a clear ceasefire or negotiation outcome, resulting in a classic impasse characterized by ‘fighting isn’t working, but not fighting isn’t either.’ Further details are provided below. The U.S. has reinstated port blockades and is engaging in maximum-pressure tactics.
Gold, Silver Futures Fall Pre-Bell as Escalation of Strikes Between US, Iran Sends Crude Oil Higher, Lifting Inflation Concerns
Brent Crude Oil Futures Climb 0.6% to $85.22, WTI Crude Oil Futures Rise 0.6% to $79.22 Early Wednesday as US Hammers Iran
Express News | International Monetary Fund: The global economy's resilience to oil supply disruptions has weakened.
Stock Market News Today, 7/15/26 – Futures Rise as Soft Inflation and Bank Earnings Lift Sentiment
Mohamed El-Erian Predicts Gas Prices Will Hit $4 a Gallon by the End of the Month as GOP Blames Democrats' Clean Energy Strategy