Warsh's Jackson Hole Speech: Will a Hawkish Tone Decide Crypto's Next Move?

Federal Reserve Chair Kevin Warsh will deliver his first Jackson Hole speech on Friday at 10 a.m. ET (2 p.m. GMT) on the theme 'Financial Innovation: Implications for Payments and Policy'. The speech is being closely watched by traders who are looking for clues on inflation, rate hikes, and the Fed's next policy move.

A hawkish tone from Warsh could lift the dollar and long-term Treasury yields while pressuring crypto and Bitcoin. The U.S. inflation remains high, yields are rising, and the Treasury plans to at least double its weekly purchases of existing government debt starting September 9.