Fed's Warsh Calls Inflation 'Too High' — But July Rate-Hike Odds Cool

Federal Reserve Chair Kevin Warsh used his first international appearance to reaffirm the central bank’s fight against inflation, telling a packed policy panel at the European Central Bank’s Sintra forum on Wednesday that “prices are too high,” while pointedly refusing to hand markets a signal on the July meeting. • SPDR Gold Shares stock is moving in positive territory. Why are GLD shares climbing? Warsh Reiterates Battle Against Inflation Warsh shared the stage in Sintra, Portugal, with ECB President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Canada Governor Tiff Macklem for a panel on inflation and interest rates.

75%. Warsh described the committee’s commitment to the 2% target as unanimous and unambiguous. Even as he noted that inflation expectations had eased in recent weeks, he declined an invitation to label the energy-driven price spike ‘transitory. ” Updating his now-famous line about meeting “in six weeks,” he quipped that the next gathering is now “in four weeks,” and said he wanted the committee to “have a good family fight” before deciding.

” Markets See Less Urgency For A July Hike Rate-hike bets remain live but cooled after his remarks. 5% for a 25-basis-point hike — down from about 37% a week earlier. On prediction market Polymarket, the July hike contract traded near 20%. Further out, the market still leans toward tightening.

CME FedWatch prices the probability of at least one hike by the September meeting near 77%, and above 90% by October. 20% overnight. 5%. The SPDR S&P 500 ETF Trust (NYSE: SPY ) held modest gains near a record.

5%, extending a rotation out of the AI leaders that powered the first half. Gold was the standout. S. 9.

WTI crude drifted below $68. com