Wall Street surged on Friday, propelling the S&P 500 and Nasdaq to record highs amid trade optimism and expectations of Federal Reserve rate cuts. Despite a brief setback caused by President Trump’s termination of trade talks with Canada, all major indexes posted weekly gains. Economic data, including consumer spending and sentiment reports, further solidified expectations for monetary easing.
US Federal Reserve chair Kevin Warsh says he will stick by 2% inflation target, vows to bring in real-time economic data for making interest rate decisions
Federal Reserve Chairman Kevin Warsh declared unwavering commitment to the 2% inflation target, signaling no monetary policy easing despite President Trump’s calls for rate cuts.
July 1, 2026