Walsh's 'Two-Faced' Strategy: Verbally Hawkish to Appease the Rate-Hike Faction, Implementing a 'Delay Tactic' in Action

CoinFeed July 1 news, institutional analyst Andrew Sacher said that weeks after Fed Chair Walsh debuted at the June FOMC meeting, the market is still debating his identity — is he hawkish or dovish? With divisions within the FOMC over whether to raise rates or hold steady, Walsh's stance is particularly important. The Sintra conference will provide a new opportunity to reassess his position. I think Walsh is first and foremost a politician, and his remarks at the FOMC meeting catered to both sides — we expect a similar approach at Sintra. Because he focuses on price stability, his remarks may lean hawkish, aimed at appeasing the sizable faction of the committee that wants the Fed to demonstrate its independence from Trump through rate hikes.