Kevin Warsh Was Chosen to Lower Rates. Markets Now Expect at Least 1 Hike Before Year-End

Why it matters

The appointment of Kevin Warsh as Fed Chairman with a mandate to lower rates, combined with market expectations shifting to at least one rate hike before year-end, represents a significant monetary-policy signal that will materially influence credit markets and rate outlooks for professionals.

Sources

• Inc.

  Kevin Warsh Was Chosen to Lower Rates. Markets Now Expect at Least 1 Hike Before Year-End

  The new Fed Chairman’s commitment to being non-committal on forward guidance will be tested in Jackson Hole.