Warsh went hawkish when the market expected him to follow Bessent
What we had today was an expectation that Warsh would follow in his buddy Bessent’s path. There were a lot of articles saying Bitcoin will or won’t go up based on this, and this is the most important comments ever from a Fed chair for Bitcoin. I don’t agree with any of that, but I can understand the reason they were saying so. There were basically two paths Warsh could take. He could say yes, we’re going to ease, we’re going to lower interest rates, we are going to support the operations of the Treasury, we want to refinance the debt lower. Of course, none of these are the Fed’s business, those are Treasury problems. Or he could come in hawkish and say we have a strong economy and inflation is still a problem. He basically did the latter.
#Fed #Macro #Markets #Bitcoin #RatesRates
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