Key facts
- Copper prices fell more than 1% on Thursday.
- Federal Reserve Chairman Kevin Warsh's comments sparked speculation of interest rate hikes.
- Warsh stated the Federal Reserve will not tolerate high inflation.
- US Treasuries recovered from an earlier selloff.
Copper prices declined by more than 1%, erasing earlier weekly gains, following comments from Federal Reserve Chairman Kevin Warsh during his first press conference. Warsh's remarks ignited speculation about potential interest rate hikes by the central bank. Subsequently, US Treasuries recovered from an earlier selloff as Warsh's stance on inflation was perceived as credible. He did not specify what actions would be taken to achieve this goal.