According to a BlockBeats report on August 28, Federal Reserve Chairman Kevin Warsh delivered a speech that turned out more hawkish than many market participants had anticipated. He highlighted strong corporate profits, steady consumer spending and narrowing credit spreads as evidence that the economy remains in good condition. Warsh said that credit and lending markets are showing almost no signs that monetary policy is becoming restrictive, and that he finds it difficult to describe the current overall financial conditions as restrictive. The remarks reinforced Wall Street's expectations for a Federal Reserve interest rate hike.
Federal Reserve Chairman Kevin Warsh delivered a more hawkish-than-expected speech on August 28, pointing to solid corporate profits, stable consumer spending and narrowing credit spreads as signs that the economy is in good shape.
"In my view, credit and lending markets show little sign that monetary policy is becoming restrictive. Overall, I find it difficult to describe the current overall financial conditions as restrictive," Warsh said.
The remarks reinforced Wall Street's bets on a Fed interest rate hike, according to BlockBeats.
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