The global Central Bank annual meeting is about to be held, Fed officials have made hawkish remarks.

Next Friday, the highly anticipated Jackson Hole Global Central Bank Annual Symposium will be held in Wyoming, USA, attracting global investors' attention. Fed Chairman Powell will deliver a speech at the event, discussing the economic outlook, and his remarks may hint at the future direction of interest rates in the United States.

Before Powell expressed his views, several officials from the Fed recently made hawkish statements, seemingly setting the tone for Powell's speech. Observers expect that Powell may deliver tough remarks, further emphasizing the Central Bank's determination to curb inflation and control future price increase expectations.

Last Friday, Richmond Fed President Barkin stated that the Fed must continue to take action even if inflation leads to an economic recession.

The day before, three Fed officials also expressed similar hawkish views.

Fed President Bullard is inclined to raise rates by 75 basis points in September. He believes the policy rate should be raised quickly to a level that can exert significant pressure on inflation and does not support delaying rate hikes until next year. Bullard stated that the current economic interpretation is relatively accurate and that the inflation rate remains high, thus it is reasonable to continue raising rates into the range that controls inflation.

Kansas City Fed President George shares a similar view. She believes that although U.S. inflation may be easing, it is still elevated. George stated that while the July CPI data is encouraging, it is still too early to declare victory over inflation.

San Francisco Fed President Daly believes that the Fed should slightly raise interest rates to above 3% by the end of the year to curb inflation. She stated that the specific rate increase in September will depend on future economic data, with either 50 or 75 basis points being a suitable choice. Daly also emphasized that she does not want the market to think that the Fed's path is hump-shaped, meaning that there is a rapid increase in rates this year followed by a significant decrease next year.

Affected by the Fed's hawkish stance, the cryptocurrency market saw a significant drop last Friday.

Ann-Katrin Petersen, a senior investment strategist at BlackRock Investment Institute, believes that in order to bring inflation down to the target of 2%, the Fed will have to suppress economic growth. However, to promote economic development, the Fed may ultimately "accept coexistence with inflation." This dovish shift may not occur in the short term, but it is expected to arrive in 2023.