Federal Reserve Chairman Walsh delivered an important speech at the Jackson Hole annual meeting, but did not give clear policy forward guidance, saying that the US economy is improving and the labor market is fully employed, yet inflation is still too high. In response, former Federal Reserve Vice Chairman Blind believes that this statement is another kind of forward-looking guideline, or suggests a tendency to raise interest rates. After Walsh's speech, the market expected the probability that the Fed would raise interest rates in September from 35% to about 60%.

Federal Reserve Chairman Walsh delivered an important speech at the Jackson Hole annual meeting, but did not give clear policy forward guidance, saying that the US economy is improving and the labor market is fully employed, yet inflation is still too high. In response, former Federal Reserve Vice Chairman Blind believes that this statement is another kind of forward-looking guideline, or suggests a tendency to raise interest rates. After Walsh's speech, the market expected the probability that the Fed would raise interest rates in September from 35% to about 60%.