0603 GMT - Federal Reserve Chairman Kevin Warsh's tone was "on the hawkish side," Jefferies's Mohit Kumar says in a note. He refers to Warsh's comments that financial conditions can hardly be described as restrictive, and that the interest-rate hike removed a dose of accommodation, suggesting that more increases are to come, the global economist says. Warsh didn't provide any forward guidance, "but the focus was on credibility and that the Fed would act to make sure that inflation is reaching back toward their goal," Kumar says.