Wall Street Week Ahead: Newly led Fed poses wildcard for rockier US indexes

Wall Street braces for new Fed Chair Kevin Warsh's first FOMC meeting, with the S&P 500 down 2% and Nasdaq off 4.5% from June highs while the VIX hit two-month highs. Though the Fed is widely expected to hold rates, Fed fund futures price in a possible hike by year-end, and May CPI rose at its fastest pace in three years, fueling hawkish concerns. A hawkish hold or guidance on balance-sheet reduction under Warsh could amplify volatility, with implications for global risk assets including Indian equities via FII flows.