According to CoinMeta, former Federal Reserve Vice Chairman Jerome Powell stated that Chairperson Janet Yellen's speech reversed the Fed's previous logic, and the current default option is now to raise interest rates. Yellen alleviated some concerns about the Fed's inflation-fighting strategy, but she also set the stage for a potentially greater challenge in three weeks. If the Fed raises interest rates, it could anger the White House in the weeks leading up to the midterms; if it remains inactive, it could reignite the doubts that were alleviated by her speech. Yellen mentioned in her speech that the current financial situation cannot be described as restrictive, and the relatively positive inflation data in the summer did not convince her that the underlying trend is improving. The final decision will depend on developments before the September meeting, especially the CPI data for August, which will be released on September 11.