Warsh’s Jackson Hole speech puts rate hike on the table

Warsh’s Jackson Hole speech explicitly put a rate hike back on the table, signaling that further monetary tightening remains a real possibility. Markets parsed the remarks as hawkish, with bond yields and the dollar firming and risk assets showing weakness. For Bitcoin, the prospect of higher real yields and a stronger dollar increases downside pressure on a non-yielding asset, likely capping near-term upside and raising volatility.