Macro· ★★★★· bearish·

Wall Street reads Warsh as signaling two more rate hikes

  • —Fed kept rates at 3.75–4%; Cook and Hammack dissented in favor of an immediate hike
  • —Futures price one hike in December and another in March
  • —Two-year Treasury yield fell 4 bps to 4.7%
  • —Warsh declined to describe financial conditions as restrictive
Why it matters: A longer tightening cycle weighs on risk assets, including bitcoin, which is already trading near $80,000.
Source: ChainCatcher 链捕手