BlockBeats News, August 29th, Federal Reserve Chair Jerome Powell said on Friday at the Jackson Hole Global Central Bank Symposium that despite better-than-expected inflation data this summer, it is not yet sufficient to demonstrate a "meaningful improvement" in the underlying inflation trend. The Fed still needs to confirm that inflation can fall back to the 2% target quickly enough, otherwise, "there is more work to be done."

Powell emphasized that controlling inflation remains the Fed's top priority, while noting that the U.S. economy appears to be strengthening, but he did not directly reveal the policy decisions for the September meeting.

Following the speech, Treasury yields rose, gold prices plummeted, and the market's expectations for a September rate hike by the Fed increased. CME FedWatch data shows that traders now see a 45.7% probability of a rate hike in September, a significant increase from the previous day.