Dollar gains after hawkish comments from Fed's Warsh

The US dollar rose after Fed Chair Warsh's hawkish remarks; market sees 46% chance of September rate hike.

28/08/2026 14:432 min read

The US dollar moved higher as Federal Reserve Chair Warsh delivered more hawkish remarks. He remained reluctant to offer forward guidance, but the market now prices around a 46% chance of a September rate hike. That probability is up from the low 30s, though still below the roughly 60% level seen about a month ago.

Warsh's speech was longer than expected, lasting close to 30 minutes.

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