Prognosis: The Federal Reserve Chairman will deliver a heavy speech at 2200 hours, which will be a key guide to interest rate expectations

ON AUGUST 28TH, AT 2200 HOURS BEIJING TIME, FEDERAL RESERVE CHAIRMAN WALSH WILL MAKE THE MOST INTERESTING PUBLIC STATEMENT SINCE HE TOOK OFFICE AT THE JACKSON HOLE GLOBAL CENTRAL BANK. AT PRESENT, HIGH RATES OF RETURN ON UNITED STATES DEBT AND THE FACT THAT INFLATION IS STILL SIGNIFICANTLY HIGHER THAN THE TARGET, AND IT IS NOT YET CLEAR TO THE MARKET UNDER WHAT CONDITIONS ANY FURTHER TIGHTENING OF THE POLICY WILL TAKE PLACE IN WALSH, MAKING THIS STATEMENT A KEY NODE THAT COULD RE-ENGAGE INTEREST RATE EXPECTATIONS AND BOND PRICING. THE CHIEF ECONOMIST OF THE UNITED STATES M&T BANKING GROUP, LUKE TYRELL, SAID THAT WALSH MIGHT HAVE TALKED MORE ABOUT THE FED’S INTERNAL REFORMS AND HOW CENTRAL BANKS SHOULD OPERATE, RATHER THAN A DETAILED ANALYSIS OF ECONOMIC AND INTEREST RATE PATHS IN THE COMING MONTHS。