According to CoinMeta, Beth Harker, the president of the Cleveland Federal Reserve, stated that the Federal Reserve should have already begun raising interest rates and that multiple rate hikes will be necessary. Her comments directly oppose the market's dovish re-pricing following the weak July employment report last Friday, reintroducing two-way risks into the market. As a current member of FOMC, Harker voted against keeping interest rates unchanged in July, and her views carry more weight than those of regional presidents. She made it clear that a single rate hike is not sufficient to address current inflation pressures, and that more hikes may be required. She pointed out that further delays will prolong the period during which inflation exceeds the Federal Reserve's 2% target, making it more difficult to bring it back down to that target in the future.