Warsh says the Fed is not done at Jackson Hole; silver settles down 4.17% at $62.49
Fed Chair Kevin Warsh said at Jackson Hole on Friday, August 28, 2026 that the Fed is not done tightening and will need more work unless underlying inflation is returning to target. Spot silver settled at $62.49, down 4.17%, and gold fell about 3%. Fed funds futures lifted the odds of a September hike from 35.4% to 57.5%.
- Silver settled at $62.49, down $2.72 or 4.17%
- Gold fell about 3% on the same speech
- September hike odds rose from 35.4% to 57.5%
- 2-year Treasury yield rose more than 10 bp to 4.35%
XAG around the story · hourly24 h reaction ▼ 0.49%
Moves this explains
COIN−6.63%Aug 27 · Hawkish Fed signal hit precious metals and crypto: Warsh's first Jackson Hole speech was read as hawkish and silver fell 3.76% (XAU -2.85%), while BTC fell 2.99%, MSTR 7.96% and COIN 6.63%. SPX slipped only 0.13%, so the drop was concentrated in rate-sensitive assets and crypto.MSTR−7.96%Aug 27 · Fell 8.0% after Fed Chair Warsh's Jackson Hole remarks were read as hawkish, with silver -3.8%, gold -2.9%, Bitcoin -3.0%, Ether -2.7%, Coinbase -6.6% and Robinhood -5.1%, while the S&P 500 was roughly flat (-0.1%). Two reports on the speech, dated the same day, are the most direct explanation for the rates-sensitive move.Source
FXEmpireAug 28, 2026