Fed on Edge, Oil Spikes 6% on Iran Strikes, P&G Misses as Shoppers Trade Down

Finance TL;DR Daily · Jul 29, 2026 · 5m · transcript

The Fed heads into a high-stakes rate decision under new Chair Kevin Warsh as inflation lingers above target, oil prices jump more than 6% after Trump vows retaliation against Iran following strikes in Iraq, and Procter & Gamble's revenue miss shows value-conscious shoppers are trading down. In this episode: • Federal Reserve decision looms with rates expected to hold, but a hike remains possible —…