The Federal Reserve held steady this week, and Waller's speech may bring hawkish risks

According to Jinshi News, Capital Economics believes that the Federal Reserve will likely remain on hold this week. The agency's North America Chief Economist Stephen Brown speculates that Waller's remarks may be more hawkish than expected, and the market risk lies in communication errors or changes in Waller's stance. Brown warns that if Waller is constrained by Trump, a dovish tone could raise concerns about the independence of the Federal Reserve and push up long-term bond yields. He also stated that there is a high possibility of two "insurance rate hikes" in December and early next year.