Jackson Hole runs Aug 27–29, with Warsh’s first keynote as Fed Chair tonight. The official theme is “Financial Innovation: Implications for Payments and Policy”, putting payments, tokenisation, crypto and stablecoins unusually close to centre stage.
Thursday may already have front-run the dovish trade: QQQ +1.37%, gold +1.12% and Bitcoin +2.96%. When equities, gold and BTC rise together, I read it less as three separate fundamental stories and more as a liquidity/weaker-dollar trade.
My focus is the rate signal. Warsh has deliberately avoided conventional forward guidance, so even subtle language on inflation, yields or future tightening could trigger a large repricing.
I’m watching BTC most closely. The symposium’s focus makes crypto especially sensitive, but if Warsh turns hawkish, BTC may also have the most air underneath it.
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- Tracccy·08-28 11:43DXY is the cleaner tell here. If this is really a liquidity trade, dollar weakness should confirm it faster than BTC alone.LikeReport