According to CoinMeta, Muhammed El-Eslam, the president of the Federal Reserve Bank of St. Louis, spoke before a meeting of the Shadow Open Market Committee, stating, "I believe it is necessary to further tighten monetary policy, and action will need to be taken soon." He pointed out that inflation levels in the United States are still too high, and if the Federal Reserve does not raise interest rates further, the risk of inflation remains on the rise. At the same time, the overall U.S. economy and job market remain strong, and the current financial environment is still accommodative.