Fed’s Warsh: Rates Affect AI and CapEx, No Political Role in FOMC Decision

Warsh's explicit link between policy rates and AI-related capital spending gives crypto and RWA markets a clearer transmission channel to watch: tighter financial conditions and wider credit spreads could slow the risk appetite that has underpinned tokenized-asset growth. His insistence on a hard 2% target, with no softening, signals less tolerance for inflation-driven accommodation than markets may assume. The claim that politics played no role in the FOMC decision is the line most likely to be contested, given the midterm timing; whether that framing holds under scrutiny is the open question.