The outlook for $BTC shifted quickly this week. The coin had been trying to hold above $80,000, but that effort collapsed once Warsh's comments started circulating.
The root cause traces back to Jackson Hole. Per CNBC, Warsh acknowledged that recent PCE and CPI inflation figures beat expectations, but he stopped short of declaring the underlying trend had genuinely improved.
He avoided committing to any specific rate trajectory. Instead, he pushed for what he called a "quieter Fed"; one that relies less on forward guidance and leaves markets with fewer cues to trade off of.
That marks a departure from his predecessors' playbook. Jerome Powell, for instance, frequently used the prospect of rate cuts to soothe Wall Street. Warsh seems to be deliberately doing the opposite.
Markets still reacted. Traders had largely priced in a pause at the September meeting, and any suggestion that looser policy isn't a sure thing tends to hit risk assets first.
#BTCDrops3.4%To$77383 #WarshSaysInflationIsFedTopFocus
