New Federal Reserve Chair Kevin Warsh testified before Congress, reaffirming the Fed's commitment to fighting inflation and maintaining a 2% inflation target. With traders pricing in an 86% probability of unchanged interest rates at the next FOMC meeting on July 29, the article recommends short-term Treasury and bond ETFs as investment options to capitalize on current interest rate levels.
Axe note: Kevin Warsh’s testimony underpins the Fed’s fight against inflation, keeping rate hike bets muted and the rand in focus.