A new era began at the Federal Reserve as Kevin Warsh replaced Jerome Powell, taking charge with inflation still above target and the June 17 policy meeting approaching. Recent PCE data showed some moderation in monthly price growth, but energy costs and Middle East tensions continue to cloud the outlook.

Artificial intelligence remained at the center of attention. Anthropic’s IPO filing, alongside expected listings from SpaceX and OpenAI, signaled the start of a major AI fundraising wave. The sector’s momentum also helped South Korea become the world’s sixth-largest stock market, driven by semiconductor giants.

The coming days will be shaped by key US labor-market releases, fresh inflation data, developments surrounding US-Iran negotiations, and growing anticipation over the Federal Reserve’s first policy decision under its new leadership. 

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