According to CoinMeta, Kevin Warsh ( Kevin Warsh ) warned in his speech at Jackson Hole that inflation is still too high, and the probability of the Federal Reserve raising interest rates in September has risen to over 50%, a significant increase from 35% before the speech. He pointed out that recent data has not convinced him that underlying price pressures are declining rapidly, and if progress stalls, policy may be further tightened. The Federal Reserve's benchmark interest rate remains unchanged at 3.50%-3.75%, while the inflation rate for personal consumption expenditures ( PCE ) in July was still 3.7%. More than half of the goods and services tracked by the government have seen price increases of at least 3% over the past year. Short-term bonds have absorbed most of the pressure, with the yield on 2-year Treasury notes rising by 6.6 basis points to 4.29%, and the yield on 10-year notes at around 4.68%. The US dollar index rose by about 0.4% to 99.55, reflecting the market's increased expectations of another interest rate hike.