BNP Paribas Says Warsh Can Prove Credibility With Rate Hike

Camille de Courcel, head of developed markets rates strategy at BNP Paribas, told Bloomberg Television that Federal Reserve Chair Kevin Warsh could demonstrate credibility by raising interest rates at next week's FOMC meeting. De Courcel said the July FOMC meeting did not appear credible to markets and that Warsh sees an opportunity to signal future rate increases. De Courcel stated that failing to deliver on rate hikes could create negative market consequences.

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