Warsh Killed Forward Guidance and Nine Committee Members Want a Rate Hike

The FOMC statement under Warsh ran barely half a page compared to the page-and-a-half releases under Jerome Powell. 

Warsh did not add his own position to the dot plot. Nine committee members already project a rate hike before year-end, and the CME FedWatch tool shows markets pricing only a 15% chance that rates stay flat through December.

Analyst Benjamin Cowen argued Wednesday that the pricing-in of a rate hike is itself the headwind, regardless of whether one actually happens. 

Bitcoin depends on looser monetary policy to outperform, and the two-year Treasury yield heading back up historically forces the Fed to…

Read more on Benzinga