According to CoinMeta, Greg Gitzee, head of fixed income and municipal bonds at Nomura, stated that despite Federal Reserve Chairman Jerome Powell's clearly hawkish speech at the Jackson Hole Symposium, the address further clarified the Fed's policy framework. The Consumer Price Index (CPI) remains the Fed's preferred inflation indicator, with a 2% inflation target that is firm and non-negotiable, and policy rates continue to be the Fed's primary monetary policy tool. Gitzee noted that Powell's hawkish stance was very clear, but the wording of this speech echoed previous statements made at several press conferences, so it does not necessarily mean that the Fed is about to shift its policy.