Arthur Hayes Focuses on Warsh Balance Sheet View Over Short-Term Rate Path

Arthur Hayes said he is watching Kevin Warsh’s stance on the Federal Reserve balance sheet more closely than short-term rates because he sees balance sheet policy as more important for U.S. dollar liquidity and Bitcoin pricing. Hayes said markets may be overreading Warsh as hawkish and expects the Fed to manage liquidity through asset swaps without weakening U.S. Treasury debt issuance capacity.

BTC1.23%
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