Fed Chair Warsh: Q3 GDP could exceed 3%

The signal matters less for the GDP figure itself than for what it implies about the Fed's read on growth running hot, which sits awkwardly against any easing bias markets may be carrying. Because the remark came without supporting detail, it lands as a directional steer rather than a forecast, and its weight will depend on whether other Fed communication echoes it. The open question is whether this framing of above-trend growth hardens into a consensus view that shapes policy expectations.