Weekly Briefing - A new Fed chair takes over as oil jitters return

Here is the week in economics, explained without the jargon.

A new Fed chair

A new chair was formally sworn in to lead the Federal Reserve this week, taking over a central bank navigating a genuinely difficult mix of persistent inflation, a cooling labor market, and an unresolved energy shock. Leadership changes at the Fed do not change interest rates by themselves, but they can shift how the institution communicates and weighs its priorities going forward - worth watching closely in the meetings ahead.

Oil jitters returned

Oil prices jumped again after renewed warnings about the security of the Strait of Hormuz, the shipping route that has been at the center of this year’s energy volatility. Stocks were split on the news: broader indexes still notched a winning week, but energy-sensitive sectors pulled back.

A volatile week for individual stocks

Some of the market’s most closely watched individual stocks moved sharply in opposite directions this week, a reminder that even in a week where the overall market rose, plenty of individual investments were moving on their own company-specific news.

What it means for you

A new central bank leader is worth paying attention to over the coming months, since it can shape the tone - if not immediately the substance - of decisions that affect everyone’s borrowing costs.