Warsh drops the 'dose of stimulus': market now expects 3-4 more Fed hikes
- —Fed raised rates by 25 bps to a 3.75-4% range
- —Warsh: policy is removing a 'dose of stimulus,' not tightening
- —Odds of an October hike rose from 42% to 58%
- —Futures price a 4.635% rate by the end of 2027
Why it matters: A longer Fed hiking cycle increases pressure on the crypto market and risk assets, limiting bitcoin's upside.
Source: CNBC Crypto