A year after the Federal Reserve’s rate cuts, Kevin Warsh now faces scrutiny on whether to reverse course. Lawmakers, inflation data, and market pressures all converge this July to shape the Fed’s next steps.

Bitcoin soared 5% to $117,300 after Federal Reserve Chair Jerome Powell hinted at an upcoming interest rate cut, resulting in massive short liquidations. Analysts now say the “uptrend is back,” putting a target of $200,000 by year’s end within sight.