On the 19th, Federal Reserve Chairman Powell hinted in a speech at the New York Economic Club that the Federal Reserve may continue to suspend interest rate hikes at its next monetary policy meeting. Powell said that the significance of interest rate increase is to affect the financial situation, and the recent rise in the yield of long-term U.S. treasury bond bonds is leading to a tightening of the financial situation, so it is necessary to observe the next development trend. On the same day, the yield of 10-year US treasury bond bonds once rose to nearly 5%, a new high in 16 years. Powell said that although the inflation level in the United States has significantly decreased, it is still significantly higher than the Fed's long-term target of 2%, and it is expected that the core personal consumption expenditure price index will rise by 3.7% year-on-year in September. He stated that it remains to be seen whether inflation levels can continue to decline towards the target, which also means that the Federal Reserve will retain the option of further interest rate hikes. Since the start of this interest rate hike cycle in March last year, the Federal Reserve has raised the target range of the federal funds rate from near zero to between 5.25% and 5.5%. Since the beginning of this year, the Federal Reserve has slowed down the pace of interest rate hikes, announcing a pause in interest rate hikes after the June monetary policy meeting, a 25 basis point hike in July, and another pause in interest rate hikes in September. Powell stated that a series of new and old uncertainties have made the Federal Reserve's task of formulating monetary policy more complex. "Doing too little" may make high inflation deeply ingrained, while "doing too much" may cause unnecessary harm to the economy. The next monetary policy meeting of the Federal Reserve will be held from October 31 to November 1. According to data from the Chicago Mercantile Exchange's Federal Reserve Observation Tool on the 19th, traders predict a high probability of 99.6% for the Fed to maintain interest rates unchanged at its next meeting.