Markets Price 60% Odds of October Rate Hike Ahead of Midterms Amid Warsh's Hawkish Shift

Markets are pricing in 60% odds of a rate hike in October, just ahead of the midterms, as expectations shift toward a more hawkish stance under Warsh.
The concern is that once the market senses hawkishness, it tends to push expectations even further, testing how far that stance can hold.