Warsh’s Remarks Reignite Sep Rate Hike Odds

Warsh's remarks inject a fresh variable into a market already wrestling with divergent signals, suggesting the Fed's path is far from preordained. The real test now shifts to the upcoming payroll and CPI prints, which will likely carry more weight than any single official's comments. Whether these data points reinforce or undermine the revived hike odds is the key question, as it will determine if this is a fleeting repricing or a genuine shift in expectations. The market's mixed pricing underscores the fragility of the current consensus.