Crypto
Trump vs. Warsh: Rate Hike Odds Soar Amid Market Jitters
US President Donald Trump is once again calling for lower interest rates, despite Federal Reserve Chair Kevin Warsh's comments that inflation prints are higher than desired.
The CME Fedwatch tool shows a 66.4% chance of the FOMC raising the federal funds rate by September, up from 57% earlier this month.
Warsh, who has been described as hawkish, emphasized the need for price stability in his recent Jackson Hole speech, saying 'the Fed's predominant focus right now should be on prices.'
The market reacted negatively to Warsh's comments, with Bitcoin dropping nearly 1% to around $77,778 and Wall Street indices experiencing losses.