Federal Reserve Chairman Kevin Warsh delivered one of the week’s most closely watched central-bank speeches in Bangkok at the IMF-World Bank Annual Meetings, alongside IMF Managing Director Kristalina Georgieva. September CPI accelerated to 3.7%, above expectations, reviving fears of another US rate increase. Following Warsh’s remarks, the implied probability of a near-term rate hike fell from around 27% to 15%, according to the Financial Times. Warsh expressed particular optimism about AI, describing it as potentially one of the most consequential economic changes of his lifetime. Bitcoin, which had dropped below $80,000 after the hot inflation reports, found relief from the absence of hawkish warnings from the Fed chair.
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