TD Securities says the dollar could drop even if Kevin Warsh holds rates at 3.50%-3.75% on July 29, as markets misprice hike risk.

Warsh will reveal how he weighs energy shocks, AI-driven price pressure, the Fed's task forces and pressure from Trump.

Fed may hold rates steady this week, potentially weakening the US dollar. Rate hike by September 2026 at 68.5% YES.

President Trump supports Federal Reserve Chair Kevin Warsh despite policy disagreements. Warsh maintains a cautious stance on monetary easing, differing from Trump's calls. The…