Wall St Remains Muted After Fed Chair Warsh's Speech
Traders raised September hike odds after Kevin Warsh said inflation progress is not yet enough, with the 2-year Treasury yield reaching its highest level since late July.
- On Friday, Federal Reserve Chairman Kevin Warsh signaled the Fed has "more work to do" on inflation during his keynote speech at the Jackson Hole economic symposium in Wyoming.
- Traders increased bets on a September rate hike following Warsh's remarks, reversing prior market consensus that favored maintaining the status quo with nearly 70% odds before the speech.
- FedWatch data now shows a nearly 56% chance of a quarter-point hike in September, while Polymarket and Kalshi speculators indicate 49% and 48% odds, respectively.
- Short-Term yields rose sharply, with the 2-year Treasury yield hitting its highest level since late July as investors reacted to the central bank's firm inflation stance.
- The Federal Open Market Committee will determine interest rate policy on Sept. 16, with Warsh cautioning that recent inflation data does not yet suggest "meaningfully improved" underlying trends.
12 Articles
12 Articles
A day in which Ibex 35 recovers 20,000 points with a market fully attentive to Kevin Warsh's words in Jackson Hole
Closing up for the European Bags, which confirmed the raises after the speech to Jackson Hole of the president of the Fed, Kevin Warsh, who reiterated the commitment of the American central bank to bring back under control an inflation called "preoc... (ANSA)
The Fed chairman stated on Friday that inflation was "concerning" in the United States and that he could "hardly" describe monetary policy as "restrictive," remarks that signaled a certain firmness ahead of the next interest rate meeting. Prices in the United States rose 3.7% in July according to the PCE index, while the Fed's target is 2%. Nvidia's earnings and the annual meeting of central bankers in Jackson Hole, in the western United States,…
The European Stock Exchanges operate high, with steady gains in the luxury sector, leading CAC 40 to lead the gains in the region, while investors await the speech of the President of the Federal Reserve (Fed), Kevin Warsh, at the symposium of Jackson Hole. The President of the European Central Bank (ECB), Christine Lagarde, will not attend. At around 9:30 a.m., the pan-European index Stoxx 600 rose 0.46%, to 654.83 points; the Frankfurt Dax adv…
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