BofA on Warsh at Jackson Hole
> Warsh more credible now
> Market is resilient/good
> Still hawkish, but can control via short term rates on dual mandate
>BofA still expects rate hike in September
More importantly, what it does bring is more clarity. Markets operate on sentiment and it hates uncertainty. Having clarity is good.
For the AI bulls, you should probably be pickier about some companies that have great balance sheets and don't need to refinance debt in the near term. Everything else should be fine given the intensity and structural change of what we are undergoing right now.
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