Mitsubishi UFJ analyst George Goncalves said markets may increasingly tune out Fed Chair KEVIN WARSH’s remarks unless he pushes the FOMC toward a sustained hiking cycle rather than a single increase. If rhetoric stays hawkish but the next few meetings produce no hikes, short-end market reactions will fade and the long end could come under pressure in Q4.

2026-08-28

Mitsubishi UFJ analyst George Goncalves said markets may increasingly tune out Fed Chair KEVIN WARSH’s remarks unless he pushes the FOMC toward a sustained hiking cycle rather than a single increase. If rhetoric stays hawkish but the next few meetings produce no hikes, short-end market reactions will fade and the long end could come under pressure in Q4.