Global Rate Hiking Cycle Unleashes Cascading Effects Across Markets, Trade, and Households

• Fed Rate: 3.75%–4.00% after first hike since 2023; BOJ at 1.25%, highest in 31 years
• US Diesel: $6.28/gallon national average — all-time record
• Gold: $4,359/oz, up 0.4% on weaker dollar
• US Mortgage Rate: ~7%, a 19-month high

The Checkup

The global economy just entered a new monetary regime. The Federal Reserve raised rates by 25 basis points last week — its first hike since 2023 — and signaled more to come, with a unanimous...