Federal Reserve Chair Kevin Warsh said in Jackson Hole that the fight against inflation is not over.
The message is clear:
A rate hike is still on the table.
But there is no definite decision for September.
First reaction?
๐ US 2-year Treasury yields rose
๐ The likelihood of a September rate hike increased
๐ฅ Gold is holding near the $4,600 level of resistance
๐ฅ Silver is strong around $70
โฟ Bitcoin is holding in the $79โ80K range
In my view, the key point is this:
The bond market is pricing in Warshโs hawkishness, but gold and Bitcoin have not yet given in.
If gold and Bitcoin donโt fall while rates and the dollar continue to rise, the market may be pricing a bigger story than the Fed is:
US debt, fiscal risk, and the dollarโs long-term purchasing power.
Levels to watch now:
Gold: $4,520
Silver: $70
Bitcoin: $78โ80K
Not Investment Advice
#Fed #JacksonHole #KevinWarsh #Gold #Silver Bitcoin Bond Dollar Macro-economy
$BTC $XAU $XAG
The message is clear:
A rate hike is still on the table.
But there is no definite decision for September.
First reaction?
๐ US 2-year Treasury yields rose
๐ The likelihood of a September rate hike increased
๐ฅ Gold is holding near the $4,600 level of resistance
๐ฅ Silver is strong around $70
โฟ Bitcoin is holding in the $79โ80K range
In my view, the key point is this:
The bond market is pricing in Warshโs hawkishness, but gold and Bitcoin have not yet given in.
If gold and Bitcoin donโt fall while rates and the dollar continue to rise, the market may be pricing a bigger story than the Fed is:
US debt, fiscal risk, and the dollarโs long-term purchasing power.
Levels to watch now:
Gold: $4,520
Silver: $70
Bitcoin: $78โ80K
Not Investment Advice
#Fed #JacksonHole #KevinWarsh #Gold #Silver Bitcoin Bond Dollar Macro-economy
$BTC $XAU $XAG