Kevin Warsh's Inflation Testimony Came as Traders Priced an 86% Chance of a Fed Rate Hold
Interest rates seem likely to stay constant or go up.
Overview
Kevin Warsh, who became Federal Reserve Chairman at the end of May, recently testified before Congress for the first time. Naturally, stock market investors pay close attention when the Fed chair speaks, especially in sworn testimony. That's because they're looking for clues on the direction of interest rates and the overall economy.
But given Warsh's newness on the job and his view that central bankers should communicate less, his words take on heightened importance. Given the recentness of his comments, it's an opportune time to look more closely at his statements before examining how to invest profitably in line with the Fed's views.
Fed Chair Kevin Warsh answers reporters' questions at a news conference. Image source: The Federal Reserve.
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Originally published at www.fool.com.