Warsh Can Prove Credibility With Rate Hike, BNP Paribas Says

BNP Paribas says that Federal Reserve Chairman Kevin Warsh has an opportunity to prove his credibility by raising interest rates. According to Camille de Courcel, head of developed markets rates strategy at BNP Paribas, the Fed's July FOMC meeting did not look credible enough for the market.

De Courcel suggests that Warsh sees a window of opportunity to show credibility and suggest future rate hikes. However, if he fails to deliver on this promise, it could lead to a vicious circle.