Source: Charles Schwab, data from 6/15 – 6/18

Weekly Market Minute

“Wealth is the ability to fully experience life.”
— Henry David Thoreau

🧭 This Week In the Markets

Image Source: Al Drago | Bloomberg | Getty Images

Federal Reserve Holds Rates Steady as Policymakers Signal Firmer Inflation Focus

The Federal Reserve, led by Chairman Kevin Warsh, left interest rates unchanged at 3.5%–3.75%, but the meeting carried a more hawkish tone than many investors expected. While there were no dissents on the decision, policymakers were evenly split on the path forward, with the median projection suggesting a quarter-point rate increase later this year. Warsh confirmed he did not submit an interest rate forecast in the Fed’s economic projections, consistent with his long-standing criticism of forward guidance. He also announced five new task forces to review areas including Fed communications, the balance sheet, inflation policy, productivity, and the impact of artificial intelligence. Throughout the meeting, Warsh repeatedly emphasized the Fed’s commitment to achieving price stability, signaling a firm stance on inflation that pushed Treasury yields higher and weighed on the stock market. Additionally, the Fed unveiled a much shorter post-meeting statement, reflecting Warsh’s effort to simplify and streamline the central bank’s communications.

Middle East Peace Efforts Help Drive Decline in Energy Prices

Geopolitical tensions eased this week after President Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending the conflict between the United States and Iran and laying the groundwork for a broader peace agreement in the Middle East. The agreement calls for an immediate halt to Israeli military operations in Lebanon, the reopening of the Strait of Hormuz for at least 60 days, and continued negotiations surrounding Iran’s stockpile of highly enriched uranium. Vice President JD Vance noted that approximately 12.5 million barrels of oil passed through the Strait of Hormuz overnight without incident, signaling an early improvement in regional stability and energy flows.

The prospect of increased oil exports through the Strait of Hormuz helped ease supply concerns and contributed to a decline in energy prices. According to AAA, the national average gasoline price fell to $3.99 per gallon, the first reading below $4 since March and the 28th consecutive day of declines. Prices have retreated from a peak of $4.56 per gallon on May 21, marking the longest streak of falling gas prices since late 2023. While gasoline prices remain elevated compared to levels before the conflict began, investors and consumers have become increasingly optimistic that improving oil flows and reduced geopolitical risk will continue to relieve pressure on energy markets in the months ahead.

📊 Sector Performance

4-day closing price ($) and change (%)

Source: Select Sector SPDRs, data based on the Sector SPDR ETFs as of 6/18

Latest from EMW

Michael Kloempken Passes SIE Exam
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Elizabeth Evans, CFP® Ranked #80 On AdvisorHub 250 Advisors to Watch Over $1B 2026*
Elizabeth Evans, CFP® continues to inspire us with her dedication, thoughtfulness, and ever-positive attitude. This recognition is also a testament to our amazing clients who place their trust in us every day. We’re beyond grateful for your support and loyalty!

*AdvisorHub 250 Advisors to Watch Over $1B. Presented in June 2026 based on data gathered from 1/25-12/25. A licensing fee was paid for use of the AdvisorHub award logo. No fee was paid to be included in the ranking. Not indicative of advisor’s future performance. Your experience may vary.

📰 Dollars & Sense: This Week’s Rapid Read

Q&A: The Future of Cybercrime
Artificial intelligence is quickly reshaping cybercrime. Here, two cybersecurity experts discuss the future of internet fraud and what individuals can do to keep their data safe.

Source: Charles Schwab

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