Federal Reserve Chairman Kevin Warsh said interest rates could be raised in September if inflation in the US doesn't decline. #Trump lobbied for Warsh's appointment to lower rates. The rise in global bond yields since the start of the US-Iran war has increased borrowing costs for the world's largest developed economies by tens of billions of dollars, the Financial Times found. The article notes that G7 countries have recorded additional sovereign debt servicing costs of $16 billion.