News
🚨 🇺🇸 Warsh refuses to signal a December hike, front-end yields and the dollar give back the hawkish move
🚨 🇺🇸 Warsh refuses to signal a December hike, front-end yields and the dollar give back the hawkish move
- 🇺🇸 Fed Chair Kevin Warsh said he does not believe in forward guidance outside a crisis and would not share his thinking on December, saying the Fed may learn a lot by then (newswires, )
- He kept a firm tone on inflation, calling it too high, saying the Fed will not tolerate inflation above 2% on the PCE measure and has shown its readiness to act
FO view: Markets read the refusal to pre-commit as less hawkish than the two hike dissents, so the front end has handed back the post-statement rise while the 10y holds near 5%.
Not investment advice.