Asia open: Wall Street slumps as Kevin Warsh delivers hawkish hold, GBP/USD’s plunge hits support ahead of BoE
Key takeaways The Federal Reserve delivered a hawkish hold and signalled a major policy regime shift. While rates remained unchanged at 3.50%-3.75%, Chair Kevin Warsh abolished traditional forward guidance, reinforcing a data-dependent approach and increasing the likelihood of higher market volatility. Higher-for-longer interest rate expectations pressured risk assets. The S&P 500 fell 1.2%, the Nasdaq […]
