According to CoinMeta, market pricing indicates that expectations for the Federal Reserve to raise interest rates next month have slightly increased. Previously, data released by the U.S. government showed that the inflation indicator of concern to the Fed rose by 3.7% year-on-year in July, slightly higher than economists' forecasts. Interest rate futures data show that after the release of this data, the market expects a 42% probability of the Fed raising interest rates in September, which is higher than the approximately 36% before the data was released.