Markets are walking into next week like a storm is coming.
#GOLD $XAU is holding near 4,712 while traders wait for what could be Jerome Powell’s final FOMC meeting. The FedWatch odds are screaming pause again — 99% chance rates stay locked at 3.50%–3.75% even with inflation still running hot at 3.3%.
That is where things get dangerous.
High rates. Sticky inflation. Slowing confidence. And now a possible leadership transition at the Federal Reserve System.
Oil is also creeping higher with $CL around 95.1, showing inflation pressure is not exactly disappearing. If energy keeps rising while cuts stay delayed, markets could get hit with another wave of uncertainty.
Meanwhile, expected successor Kevin Warsh may inherit a mess: stubborn inflation, tight policy, and a market addicted to rate-cut hopes.
One wrong tone from the Fed and gold could explode higher as fear returns fast. But if the market senses control and confidence, risk assets could breathe again.
Next week may not just be about rates. It could be about the next era of the Fed itself.
