Warsh predicts the Fed will raise rates by a quarter point in September and then pause.
“My guess is they'll be raising rates in September, just a quarter of a point, and [then] they'll wait,”
Warsh notes the FOMC unanimously reaffirmed its Statement on Longer-Run Goals and Monetary Policy Strategy at its organizational meeting.
“The Federal Open Market Committee, at its annual organizational meeting this week, unanimously reaffirmed its "Statement of Longer-Run Goals and Monetary Policy Strategy."”
Warsh states the reaffirmed statement is identical to the version adopted in August 2020 following the strategy review.
“The reaffirmed statement is identical to the statement adopted in August 2020 following the Committee's review of its monetary policy strategy, tools, and communication practices”