Kevin Warsh Sworn In as Fed Chair, Rate‑Hike Outlook
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- Kevin Warsh was sworn in as Federal Reserve chair by Supreme Court Justice Clarence Thomas.
- Investors using CME FedWatch see a 3.5% chance of a 25‑basis‑point rate hike at the June 17 FOMC meeting.
- CME FedWatch shows the probability of a 25‑basis‑point hike rising to 17% for July and 67% for the December meeting.
- Federal Reserve currently targets a federal funds rate of 350‑375 basis points.
- Bitcoin (currently $76,000) could be negatively impacted by the Fed's outlook of continued rate hikes.
Why it matters: Investors in Bitcoin and other risk‑on assets face pressure as the Fed's projected hikes (67% chance of a December hike) threaten their $76,000 valuations, while bond yields rise.
