Powell is set to speak at the Central Bank annual meeting, and Fed officials are frequently releasing hawkish signals.

Next Friday, global investors will turn their attention to the Jackson Hole Global Central Bank Symposium held in Wyoming. Fed Chairman Powell will deliver a speech there, discussing the economic outlook, which may provide important clues for the future direction of interest rates in the United States.

Before Powell's speech, several Fed officials have already expressed hawkish positions, seemingly setting the tone for the upcoming address. Observers expect that Powell may deliver tough remarks, further emphasizing the Central Bank's determination to curb inflation and control rising price expectations.

Last Friday, Richmond Fed President Barkin stated that even in the face of recession risks, the Fed must continue to combat inflation. A day earlier, three Fed officials also expressed similar views.

Considered a major hawk of the Fed, St. Louis Fed President Bullard leans towards a 75 basis point rate hike in September. He believes that the policy rate should be quickly raised to a level that can exert significant pressure on inflation and questions the necessity of delaying rate hikes until next year.

Kansas City Fed President George also holds a hawkish stance, believing that although inflation may be easing, it remains at a high level. She warned that it is still too early to declare victory over inflation.

The San Francisco Fed President Daly, who has always been seen as a dove, also stated that the Fed should slightly raise interest rates to above 3% before the end of the year. She pointed out that the specific rate hike in September will depend on future economic data, with 50 or 75 basis points both potentially being appropriate choices.

Ann-Katrin Petersen, a senior investment strategist at BlackRock Investment Institute, believes that to achieve the 2% inflation target, the Fed will have to suppress economic growth. However, to promote economic development, the Fed may ultimately "accept coexistence with inflation." While this dovish shift is unlikely to occur in the short term, it may arrive in 2023.

Against the backdrop of frequent hawkish signals from Fed officials, the cryptocurrency market experienced a significant decline last Friday. Investors are closely watching Powell's upcoming speech for further clues on the future direction of U.S. monetary policy.