According to CoinMeta, the expectation of a Fed interest rate hike in December is essentially established, with the market betting that further hikes will occur in January and March of next year. Fed officials have made a series of hawkish statements this week, reinforcing the market's expectation of a 25-basis-point hike in December and further opening the possibility of consecutive hikes in January next year. US data for October CPI showed accelerating inflation, with wholesale prices rising to their highest level since 2022, providing additional support for interest rate hikes. New York Fed Chair Jerome Powell stated that inflation is still too high, Chicago Fed Chair Charles Evans expressed concern about the latest data, Dallas Fed Chair Loretta Logan pointed out that hikes may need to be faster than previously anticipated, and Fed Governor Christopher Waller mentioned the possibility of a 50-basis-point hike next month. The market currently expects 25-basis-point hikes in December, January, and March of next year, although some officials advocate for gradual and smaller increases. The rising expectations of interest rate hikes have pushed up U.S. Treasury yields, but factors such as a weak housing market, AI investment returns falling short of expectations, and potential declines in energy prices remain variables that the Fed must consider in its decision-making.