According to CoinMeta, economists at Deutsche Bank expect the Federal Reserve (Fed) to raise interest rates by 25 basis points in both September and December. Fed Chair Jerome Powell emphasized in his speech at Jackson Hole that it is necessary to bring inflation back to the 2% target and sent a clearly hawkish signal. Deutsche Bank believes that unless future economic data is “significantly weaker than expected,” the threshold for raising rates by 25 basis points in September is already quite high. The market has also quickly increased its bets on rate hikes: CME data shows that the probability of a cumulative rate hike of 50 basis points or more by December has risen to 51%, compared to 29% the previous day, while the probability of keeping interest rates unchanged is only 11%. After Powell’s speech, market bets on a rate hike in September have also significantly increased.