Post by @bloombergopinion

A rate hike would confirm Kevin Warsh’s hawkish speech at last month’s Jackson Hole central bank conference - indicating his commitment to a 2% inflation objective and Fed independence with action. This would demolish the argument that Warsh is “all hat, no cattle,” which would be a fair critique if he were to stand pat at this week’s Federal Open Market Committee meeting. To be sure, with the market putting the probability of a 25-basis-point tightening at about 90%, Warsh really has no choice, former NY Fed President Bill Dudley says. #US #economy #kevinwarsh #inflation