Federal Reserve Chair Kevin Warsh stated at the Jackson Hole symposium that the central bank must act more aggressively if policymakers are not confident that core inflation is returning to its 2% target.

Following that speech, financial markets experienced a convulsion characterized by a selloff in technology stocks, rising bond yields, a recovering U.S. dollar, and falls in metals and cryptocurrencies.

On August 31, the price of XRP fell roughly 2% to near $1.36 after Federal Reserve Chair Warsh reaffirmed the Fed's commitment to the 2% inflation target. A cited report said this raised implied odds of a September rate hike from 35% to 57%.

Asian stock markets closed mixed on Monday after recovering from early sharp declines, as investors adopted a cautious posture following hawkish comments from Federal Reserve Chair Kevin Warsh regarding US interest rates. The article asserts that Federal Reserve Chair Warsh's hawkish comments reinforce the view that the Fed will hike interest rates at the September 16 FOMC meeting.