Witkoff, Kushner Meet Putin in Moscow, Zelensky in Kiev

Projectiles Hit Two Supertankers Exiting Hormuz As Brent Tops $92, Diesel Crack Breaches $100 Two oil supertankers were struck by unknown projectiles while transiting the Strait of Hormuz early Tuesday, signaling yet another sharp escalation in hostilities along the world’s most critical energy chokepoint. The attacks follow President Trump's warning Monday that additional strikes against Iran remain possible. Traders are pricing in a further war risk premium, pushing Brent crude futures above $92 a barrel, while US diesel crack spreads have breached the critical $100-a-barrel threshold. Maritime security consultant Marisks reports that...

FundStrat's Newton: Why Not Replace The FOMC With AI? Short of abolishing the Fed (much preferred), would automating the Fed make more sense than the current system? Should we trust Kevin Warsh, Jerome Powell, and Lisa Cook to read the tea leaves each month and decree rate changes for us commoners?  That was Fundstrat's Mark Newton’s suggestion during last night's ZeroHedge debate on his H2 market outlook. He pointed out the new chair’s plan to eliminate “forward guidance”, a term invented under the previous chair Powell in which the Fed strategically...

Watch Live: Fed Chair Warsh Delivers Keynote Address At Jackson Hole Nothingburger or market upheaval? Fed Chair Kevin Warsh will deliver his first keynote address at the Kansas City Fed’s Jackson Hole Economic Policy Symposium this morning. As we highlighted in our extensive preview, Warsh noted at the July FOMC meeting that his remarks could go in one of two directions: a “big-picture speech” or a “more traditional set up for all the action we’re going to have between September and December.” How much will Kevin Warsh say in Jackson Hole today? That's the...