Fed Holds Rates Amid "Elevated" Inflation, Powell Signals Caution, Oil Prices Surge

1. The Fed maintained interest rates at 3.50-3.75%, signaling "elevated" inflation and a hawkish outlook from Chair Powell who emphasized economic uncertainty and a commitment to taming inflation.
2. Brent and WTI crude oil prices surged dramatically by over 6%, with Brent hitting its highest level since June 2022 amid geopolitical tensions and OPEC+ policy expectations.
3. A Broadcom (AVGO) insider reportedly plans to sell shares worth approximately $170 million, a significant transaction that could impact investor sentiment on the stock.