According to CoinMeta, tools from the Chicago Mercantile Exchange show that the market expects a 25-basis-point interest rate hike by the Federal Reserve in October with a probability of about 10%. Goldman Sachs' chief U.S. economist predicts that the Fed will raise rates in December. The market is paying attention to statements made by Federal Reserve Chairman Kevin Warsh at a press conference regarding inflation, the financial environment, and monetary policy for 2027. The market's pricing of the Fed's interest rate hike path reflects the high uncertainty of current monetary policy. Goldman Sachs' forecast deviates significantly from the market's mainstream expectations, exacerbating investors' concerns about short-term interest rate fluctuations. The chairman's statements directly determine the risk appetite of the financial markets. This game of guessing future policy paths will continue to suppress the market's expectations of a loose environment and reinforce the asset pricing logic under high-interest-rate conditions.