Although I still believe the Fed won't raise interest rates in September, I saw someone say, 'The current inflation isn't caused by demand. Even if you raise rates 100 times, oil prices won't drop,' and I have a different perspective. First of all, it's true that the recent inflation surge is largely due to the Hormuz blockade driving up oil prices. Raising interest rates indeed can't directly lower oil prices, but the impact of rate hikes can suppress people's demand for refined oil. By reducing demand, oil prices can drop, which in turn lowers inflation. This is where monetary policy can play a role. When interest rates go up, the cost of car loans, mortgages, credit cards, and corporate financing all increase. People will cut back on spending, and businesses will reduce investment and expansion. As economic activity cools down, the demand for oil in driving, transportation, aviation, and industrial production will decrease. So even if Hormuz hasn't fully recovered and crude oil supply remains tight, once demand drops, the supply-demand gap will narrow, and the room for oil prices to continue rising will naturally be limited. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all-in-one trading platform