Fed Chair Warsh: Today’s Rate Hike Decision Was a Firm Consensus

The signal here is less the hike itself than the unanimity Warsh describes: a firm consensus suggests the committee is not treating this as a lone or reluctant step, which matters for how the tightening cycle is read from the outside. For crypto and RWA markets, the relevant channel is the same as always — tighter dollar conditions pressure risk appetite and tokenized yield products alike. The open question is whether that consensus holds as the cycle extends, since the vote split and the size of the increase were left undisclosed.