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Magyar28 Oct 2026
Fed Chair Kevin Warsh opened his October 28 press conference by saying inflation is too high and that the Fed's responsibility is to bring it down. He said third-quarter GDP is likely above 3% and that the Fed has made clear its readiness to act. Bitcoin held near $81,000.
Markets TradeReviewed News Desk
Federal Reserve Chair Kevin Warsh struck a firm tone on inflation at his press conference on Wednesday, shortly after the Fed kept rates at 3.75% to 4.00% in a 10-2 vote. According to headlines relayed by Walter Bloomberg, Warsh said “our responsibility is to get inflation down” and that inflation is too high.
What Warsh said
The opening remarks focused on a strong economy and sticky prices. Warsh said third-quarter GDP is likely above 3% and that business investment is likely rising at a double-digit pace. He repeated the line from the FOMC statement that the committee believes more information will help determine the appropriate policy stance.
He also said the Fed has “made clear our readiness to act” and has shown its willingness to act, and that he was not surprised by volatility in financial markets. Taken together with the two dissents earlier in the day, when Governor Lisa Cook and Cleveland Fed President Beth Hammack voted for a 25 basis point hike, the message reads as a hawkish hold rather than a pause before cuts.
December hike odds
Markets were already leaning toward tighter policy before the presser. Walter Bloomberg reported that traders continue to price an 80% chance of a Fed hike in December, and Goldman Sachs Asset Management said it expects the Fed to resume raising rates at that meeting. Warsh’s comments on strong growth and high inflation did nothing to push back against that view in the first minutes.
Bitcoin and Ether reaction
Crypto stayed calm during the opening remarks. On OKX, Bitcoin traded at about $81,280 around 19:37 CET, up roughly 0.8% on the day in a 24-hour range of about $80,400 to $81,820. Ether was near $2,367, up about 0.8%. The Q&A part of the press conference can still move prices, especially if Warsh is asked directly about a December hike.
What it means for traders
A Fed chair talking about high inflation, 3% growth and readiness to act is a headwind for risk assets such as BTC and ETH, because it lowers the chance of easier money soon. Press conferences often bring fast wicks and liquidations in both directions, so keep leverage low and use stop losses. Compare fees and derivatives depth in our crypto exchange comparison, where BingX ranks first and OKX second, and see how we test exchanges. You can also read our earlier report on the Fed’s October rate decision.
For information only, not financial advice. Prices: OKX spot market data around 19:37 CET.
Sources
- Walter Bloomberg: Fed’s Warsh: our responsibility is to get inflation down
- Walter Bloomberg: Fed’s Warsh: 3Q GDP likely above 3%
- Walter Bloomberg: Fed’s Warsh: inflation is too high
- Federal Reserve: FOMC statement, October 28, 2026
- OKX public market data (BTC-USDT, ETH-USDT)
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Sources
- Walter Bloomberg: FED'S WARSH: OUR RESPONSIBILITY IS TO GET INFLATION DOWN
- Walter Bloomberg: FED'S WARSH: 3Q GDP LIKELY ABOVE 3%
- Federal Reserve: FOMC statement (October 28, 2026)
News is for information only and is not financial advice. More crypto news
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