Good evening, you're tuned into Markets Desk.
Alan Greenspan, the architect of modern monetary policy and one of the most consequential figures in Federal Reserve history, has died at the age of one hundred. Greenspan served as Fed chairman for nineteen years under four presidents, navigating the economy through the dot-com bubble, the nineteen ninety seven Asian financial crisis, and the early tremors of the two thousand eight collapse. His legacy remains deeply contested, but his influence on central banking is undeniable.
On the current Fed, markets are digesting a notably hawkish signal from the June meeting under new chairman Kevin Warsh. The tone was unmistakably tight, with the Fed showing little appetite to cut rates despite ongoing pressure from equity markets. The silver lining, if you can call it that, is that a credible inflation fight tends to anchor long-term bond yields and protect purchasing power over time.
Shifting to geopolitics with direct market implications, Vice President Vance is reporting meaningful progress in U.S.-Iran nuclear talks held in Switzerland, with Tehran agreeing to allow IAEA inspectors back into the country. That matters for energy markets, as any credible path toward sanctions relief could bring additional Iranian crude supply into a market already navigating OPEC production decisions.
That's the tape. Markets Desk, signing off the floor.
