US Treasury yields have surged in early July 2026, with the 2-year reaching 4.17% and the 10-year climbing to 4.48%. Kevin Warsh, sworn in as Fed Chair on May 22, 2026, succeeding Jerome Powell, held rates steady during his first FOMC meeting in June amid persistent inflationary pressures from rising oil prices and elevated commodity costs. Bitcoin surpassed $60,000 in early July, driven by Warsh’s comments suggesting diminished inflation risks, though higher Treasury yields remain an attractive alternative to risk assets. During his Senate confirmation process, Warsh disclosed investments in crypto-related entities including Solana and Optimism, making him arguably the most crypto-friendly Fed Chair in the institution’s history.
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