According to CoinMeta, a research report by CICC stated that on the evening of August 28th, Beijing time, Federal Reserve Chairman Jerome Powell delivered a keynote speech at the Jackson Hole Global Central Banks Symposium. Powell took a more hawkish stance, emphasizing the 2% inflation target measured by PCE, and reiterated the Fed's responsibility to maintain price stability. The market responded positively to this, with the 2-year interest rate jumping by more than 10 basis points, the US dollar soaring, and gold plummeting by 3%. Expectations for a rate hike in September based on CME futures soared from 35% to 58%. However, the hawkish stance did not trigger panic, and stock markets in the US saw limited volatility. The 10-year US Treasury yield only increased by 4 basis points, while the 30-year yield actually fell, indicating that the market is willing to trade short-term hawkishness for long-term stability.