Greg Gizzi is the chief investment officer of fixed income and head of municipal bonds at Nomura Asset Management International. He told TheStreet in an email that the June FOMC statement “focused solely on factual observations” while Warsh repeatedly signaled “forthcoming changes.”

Gold and silver futures both declined Thursday morning, one day after the Federal Reserve held rates steady and suggested future hikes are coming.

While no predictive tool can ever guarantee the future, the CME Group's FedWatch Tool leaves little to doubt about what's to come for interest rates. This tool analyzes the prices of 30-day Fed funds futures contracts to determine the likelihood that the FOMC will raise or cut interest rates at upcoming meetings.

Morgan Stanley warns Kevin Warsh could reshape Fed communications, reduce policy guidance and keep interest rates higher for longer

Governor Andrew Bailey says while recent drops in oil prices are "encouraging", high energy prices from the Iran war have left "inflationary pressure in the pipeline".

Gold gained for a fifth consecutive session on Wednesday as optimism ‌over a U.S.-Iran peace agreement eased expectations of U.S. interest rate hikes, while investors awaited further details on the deal and the Federal Reserve's policy meeting.