Warsh Delivers Hawkish Jackson Hole Message, But Rising Yields Could Bring the Treasury Put Back Into Focus, SOL Gets a Meaningful Supply-Side Tailwind

Fed Chair Warsh delivered a decidedly hawkish message at Jackson Hole, pushing back on the idea that financial conditions are restrictive and suggesting weaker payroll growth may not be enough to elicit a dovish response from the Fed. While the resulting rise in yields creates a near-term headwind for crypto, it also brings the emerging tension between the Fed and Treasury back into focus. If the long end continues ...

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