CNBC Daily Open: A 'hoax,' a sell-off and a dilemma for Warsh

President Donald Trump and Kevin Warsh, chairman of the Federal Reserve, during a swearing-in ceremony in the East Room of the White House in Washington, May 22, 2026.Yuri Gripas | Bloomberg | Getty ImagesHello, this is Leonie Kidd coming to you from London. Welcome to another edition of CNBC's Daily Open.This week's policy decision already presented a dilemma for Chairman Kevin Warsh. Hike rates and risk the ire of President Donald Trump. Hold rates and risk the ire of the markets for looking out of touch. And things just got more complicated with the 10-year Treasury yield hitting a level not seen since 2007, oil prices holding above the triple-digit levels, and an AI sell-off wiping trillions of dollars from some of Wall Street's AI darlings.Read on for more.What you need to know todayThe market is not making things easy for the Federal Reserve this week. The central bank kicks off its two-day meeting on Tuesday with a raft of price dislocations to consider as it sets policy. Markets are pricing in a near-certain hike by 25 basis points on Wednesday, with the probability of another December hike now at 75%. AI for an AI Yield to the bond marketNext up, the 10-year Treasury yield...