Warsh’s Hawkish Jackson Hole Remarks and Bitcoin’s Bull Run Outlook

Bullish Gator

Schwab’s Cooper Howard calls Warsh surprisingly hawkish; watch incoming inflation data. Jim Farraioli links the tone to Bitcoin and gold, noting a coin-flip chance of an interest-rate hike.

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What stands out

Kevin Warsh's unexpectedly hawkish turn at Jackson Hole landed like cold water for traders, and Schwab's on-air guests tied that tone directly to Bitcoin, gold, and retail flows. Cooper Howard said he was surprised by the emphasis on inflation, while Jim Farraioli called it a "rebirth of the debasement trade," turning crypto's next leg into more of a coin flip than a foregone conclusion. For Charles Schwab (SCHW), which sits between millions of retail accounts and the instruments those investors trade, shifts in rate expectations change trading volumes, custody balances, and ETF demand almost overnight, a fact later underscored by headlines about Schwab's dividend ETF performance.