Finance

Warsh's second U.S. FOMC as oil back above $100 revives rate-hike expectations

Markets are factoring in the possibility that Federal Reserve Chair Kevin Warsh could raise the policy rate at this week’s meeting. Oil prices have climbed above $100 a barrel as fighting between Iran and the United States resumes, reviving concerns about energy-driven inflation. Rate-hike odds priced in by futures markets have risen sharply, while bond selling has pushed long-term yields higher in the United States and Europe. Strong U.S. jobs data and inflation still above the Fed’s target are also weighing on expectations.

Crypto

Shiba Inu burn rate jumps 5,223 percent in a day, raising questions over rally

Shiba Inu's 24-hour burn rate surged 5,223.98 percent, permanently burning 412,190,021 tokens. U.Today reported the token rose 27.14 percent over the day, with an intraday gain of up to 36 percent. The seven-day burn rate climbed 816.02 percent, removing 457,511,537 tokens from circulation. Some analysis said the price move is more closely tied to increased spot trading activity, with volume rising to $700 million.