[Waller Emphasizes Fighting Inflation, Short-Term U.S. Treasury Yields Rise] According to Golden Finance, on August 28, U.S. short-term Treasury yields rose. Federal Reserve Chairman Waller, in a speech closely watched by the market, emphasized that the Fed needs to curb rising consumer prices, alleviating some concerns about its ability to combat inflation. During Waller's speech, short-term U.S. Treasuries were sold off, while long-term Treasuries rose. The two-year Treasury yield increased by 5 basis points to 4.28%, while the 30-year yield fell by 1 basis point to 5.19%. Both changes indicate that the market expects the Fed may need to raise short-term interest rates. Since Waller's first press conference in June, bond traders have harbored doubts about his policy stance. At that time, Waller emphasized the need to bring down inflation and displayed a hawkish stance. Since the global economy reopened from the pandemic in 2021, U.S. inflation has consistently exceeded the Fed's 2% target. However, in July, the Fed once again kept interest rates unchanged, and Waller did not disclose whether a rate hike might occur this year. Subsequently, long-term Treasury yields rose sharply as traders demanded higher returns to compensate for the risks posed by worsening inflation. On Friday, Waller warned that inflation has not shown meaningful signs of slowing and stated that policymakers must be confident that inflation is improving; otherwise, the central bank "still has work to do." He also reiterated that policymakers will bring the inflation rate back to the 2% target, emphasizing that this target is clear and fixed. (Jin10)