Warsh: $2.3T Erased From Markets After Speech
Warsh: $2.3 trillion wiped from gold, silver, US stocks and crypto as September rate hike odds surge to 61% post-Jackson Hole.
SourceAnalysis
Over $2.3 trillion vanished from gold, silver, US stocks and crypto in four hours after Kevin Warsh's first Jackson Hole speech as Fed Chair. Markets had priced just 34% odds of a September hike, yet Warsh labeled the 2% target firm and fixed while dismissing recent cooling prints, lifting those odds to 61% and igniting a swift crypto market crash that dragged Bitcoin lower alongside equities.
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