Warsh’s Jackson Hole speech may shape BTC, gold direction: CoinDesk

Kevin Warsh is scheduled to speak at Jackson Hole at 2:00 p.m. UTC today, and his stance on a possible expansion of U.S. Treasury purchases of long-term bonds could shape the direction of Bitcoin and gold, according to a CoinDesk analysis. CoinDesk said the U.S. Treasury plans to raise the size of its long-term bond buybacks from $2 billion to at least $4 billion per operation starting Sept. 9. It added that the Treasury’s buybacks are not quantitative easing and do not inject new liquidity into markets. If Warsh stresses the Federal Reserve’s independence and keeps distance from the Treasury, Treasury yields and the U.S. dollar could rise while momentum in BTC and gold could weaken, CoinDesk said. If he leaves room for coordination with the Treasury, the upward trend in BTC and gold could strengthen, it added.