Fed Chair Warsh's Hawkish Stance Boosts September Rate Hike Bets, Weighing on US Stock Futures Amid Rising Oil Prices

Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole symposium have significantly increased market expectations for a September interest rate hike, with traders now seeing a nearly 60% chance, up from 41.4% a week ago. This outlook, combined with a nearly 6% jump in Brent crude prices due to renewed military clashes between the U.S. and Iran, contributed to a decline in Wall Street futures and fueled inflation fears.