Home›Crypto›Market Structure›Fed Chair Kevin Warsh signals more work to tame inflat…

Fed Chair Kevin Warsh signals more work to tame inflation

After Warshs hawkish remarks, September rate hike odds rose to 42% from 35% the prior day, weighing on risk assets and bitcoin.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Fed Chair Kevin Warsh told an audience at the Kansas City Fed Jackson Hole symposium that the central bank has “work to do” to meet its 2% inflation mandate, emphasizing the Fed’s responsibility for 65 months of sustained elevated inflation.

Warsh said the Fed should be confident that underlying inflation is moving toward its objective “clearly and at sufficient speed,” otherwise the central bank will need to act, framing inflation as the predominant focus for policy.

Following the remarks, rate hike odds for September increased to 42% from 35% a day earlier, according to CME FedWatch, while bitcoin slipped to about $78,700.

The article also notes that U.S. stocks were down modestly and bond yields moved slightly higher, and it ties the backdrop to Treasury Secretary Scott Bessent’s recent promise to intervene in the bond market to try to cap long term rates.

Latest closeBitcoin $77,411.01 ▼3.5%

More like this

Sources