Five days following the Fed's decision to raise interest rates by 25 bps, Stephen Biggar believes that Fed Chair Kevin Warsh's hawkish tone is a signal for a steeper hike cycle. That said, he remains bullish on big banks and lists JPMorgan Chase (JPM), Morgan Stanley (MS), and Goldman Sachs (GS) as stock picks. Dory Wiley argues Warsh "had no choice" but to hike rates and makes the case this decision is different compared to the trading environment seen in 2022. However, Dory thinks banks will face some pressure.