[Market Expects Fed Rate Hike Next Week, Cumulative Rate Hike Expectations Raised to Three by June Next Year] Investors are convinced that the Federal Reserve will implement its first rate hike in three years next week. The market expects the cumulative number of rate hikes to reach at least three by June next year, up from the previous expectation of two. (Source: Jin10) AI Interpretation: The aggressive adjustment in the Fed's rate hike trajectory directly reflects the market's deep concerns over runaway inflation. The rapid upward revision of rate expectations has completely shattered previous expectations of accommodative monetary policy. This accelerated pace of tightening will quickly drive up financing costs and suppress the valuation of risk assets. The market is repricing the liquidity contraction pressures in a high-interest-rate environment.