Ahead of the Fed policy meeting in just over two weeks, Barr said the outlook for inflation and the economy will top the agenda.

“If trends in the data give me some confidence that inflation is moderating on a path to 2%, then I think we can take a bit more time to assess our policy stance,” Barr said, according to prepared remarks. “However, if inflation appears not to be moderating sufficiently, then I think we should act decisively to raise rates.”

Jennifer Schonberger | Yahoo Finance

Global bond yields are gripping markets, jumping back to their highest level in almost two decades as higher oil prices, inflation fears, and heavy government borrowing continue to add pressure.

Here is how rising Treasury yields could impact your finances, including mortgages, credit cards, and car loans.

Hal Bundrick | Yahoo Finance

According to the US Department of Energy, the US Strategic Petroleum Reserve declined by 6 million barrels last week to 298.7 million. Data from the Energy Information Administration shows that’s the first time the stockpile has dipped below 300 million barrels since 1983.

The US began the year with around 415 million barrels in the reserve, but that’s come down as the Trump administration has released more crude into the market to offset disruptions from the Iran war.

Markets have been hopeful that the Strait of Hormuz could soon reopen after comments from Trump and other officials last week suggested a deal was close. However, over the weekend, Trump said that the US was content to let the economic toll of the war bring Iran back to the negotiating table.

Max Adams | Business Insider

“I would say in general, one 25 basis point move probably doesn’t do a whole lot for the economy,” Hammack told Yahoo Finance in an interview. “So it’s probably some number of [movements]. But I don’t want to prejudge what that number is going to be.”

She added, “I don’t know exactly where we will end.”

Hammack dissented at the Fed’s July policy meeting when the Federal Open Market Committee held interest rates steady, preferring to have raised rates by a quarter percentage point.

Jennifer Schonberger | Yahoo Finance

Dozens of bitcoin investors around the world received a rude awakening last week after discovering they had collectively lost millions of dollars after their accounts with Toronto-based crypto storage company Coinkite Inc. were compromised. Within minutes, at least 1,600 bitcoins — worth about $140 million — were drained from users of the company’s cold wallets, according to research from New York-based digital asset firm Galaxy. So what exactly happened, how do cold wallets work and will those who lost money get it back? The Financial Post takes a closer look.

Naimul Karim | Financial Post

The KOSPI, which had risen to the 9,000-point level just over a month ago, has fallen to the 6,000-point range, sparking discussions among office workers about the term “JOMO (Joy of Missing Out).”

The KOSPI hit a record high of 9,385.59 during intraday trading on June 19 but closed at 6,023.66 on July 28, 39 days later. It dropped over 3,000 points from its peak, a decline of 35.8%. On July 28 alone, it plummeted 10.84%, triggering a circuit breaker, while Samsung Electronics and SK Hynix each fell 13.39% and 14.65%, respectively. On July 31, the index surged nearly 18%, and on August 3, it briefly dropped over 4% in early trading. Samsung Electronics and SK Hynix also declined 6–7%.

Koo A-mo | The Chosun

One-quarter of men aged 18-29 said they trade stocks daily, and almost two-thirds of them (64%) report feeling like failures, according to a study of 2,000 men published Wednesday by the Institute for Family Studies, a pro-marriage think tank. The findings were strikingly similar to outcomes among men who gamble: Of the 23% of young men who said they gambled daily, including on sports and events, 66% reported similar angst, according to survey, which asked the young men a variety of questions about their personal behaviors and outlooks. Daily fantasy sports and pornography use were similarly correlated to feelings of failure, the survey found.

Simone Foxman | Yahoo Finance

The average 30-year mortgage rate rose 8 basis points to 6.66% this week through Wednesday, according to Freddie Mac data, hitting its highest level since the end of July 2025. 

Rates are likely to go higher from here. Government bond yields, which mortgage rates closely track, surged on Wednesday after the Federal Reserve opted to hold short-term interest rates steady, with three voting members supporting a hike. 

Bond investors, worried about the Fed’s commitment to taming inflation, sold off long-term Treasuries, sending the 30-year Treasury yield to its highest level in nearly two decades. The 10-year Treasury yield, which has the closest relationship with mortgage rates, jumped more than 4 basis points on Thursday to 4.67%. 

Claire Boston | Yahoo Finance

Bank of America Corp.’s economists said markets were “doved and confused.” The headline on the note from those at JPMorgan Chase & Co. was “Talk is Cheap.” Morgan Stanley said it boiled down to “a question of credibility.”

Carter Johnson | Yahoo Finance

Asked whether he sees value in eventually merging the businesses, Musk didn’t reject the idea, but first pointed to the growing collaborations tying his two companies together.

Pras Subramanian | Yahoo Finance