“Federal Reserve microphone” Nick Timiraos said that Walsh's speech in Jackson Hole convinced investors that interest rate hikes were more likely, but he didn't tell them what would trigger interest rate hikes. The market has filled this information gap, and the rate hike expected by the market is something that Walsh never promised. As a result, Friday's inflation report is seen as the key to deciding whether to raise interest rates, and Walsh has opposed this approach for years.

“Federal Reserve microphone” Nick Timiraos said that Walsh's speech in Jackson Hole convinced investors that interest rate hikes were more likely, but he didn't tell them what would trigger interest rate hikes. The market has filled this information gap, and the rate hike expected by the market is something that Walsh never promised. As a result, Friday's inflation report is seen as the key to deciding whether to raise interest rates, and Walsh has opposed this approach for years.