I was worried about Kevin Warsh’s tone before the speech, and honestly, the speech confirmed that for me 🦅
Warsh was very clear on the topic of inflation, and he pointed out that PCE at 3.7% is still far from the Federal target of 2%.
He said the Fed has work to do if it isn’t confident that inflation will return to the desired level, and he also noted that financial conditions are not restrictive enough.
For me, this is clearly a hawkish tone.
I told you before the speech that I was leaning toward this scenario, and now the message has arrived.
So I’m still very cautious about crypto in the short term, especially after the strong rally we saw.
$BTC
#RateHikes
#Fed
Warsh was very clear on the topic of inflation, and he pointed out that PCE at 3.7% is still far from the Federal target of 2%.
He said the Fed has work to do if it isn’t confident that inflation will return to the desired level, and he also noted that financial conditions are not restrictive enough.
For me, this is clearly a hawkish tone.
I told you before the speech that I was leaning toward this scenario, and now the message has arrived.
So I’m still very cautious about crypto in the short term, especially after the strong rally we saw.
$BTC
#RateHikes
#Fed
