Fed Chair Warsh Declines to Say Whether Further Rate Hikes Needed

The deliberate refusal to call the current rate level appropriate leaves the policy path genuinely open, which matters most for rate-sensitive corners of crypto and tokenized RWAs that have been trading off Fed signaling. The emphasis on prior actions showing 'some effect' hints at a data-dependent, wait-and-see posture rather than a firm direction. Whether that ambiguity resolves into a clearer reaction function is the open question for markets pricing policy risk.