The U.S. one-year inflation rate in September is expected to be 4.6%, this data shows that the U.S. interest rate hike did not achieve the expected results, and the Federal Reserve will also carry out a new round of interest rate hikes. Further reduce the inflation rate, while indirectly promoting the decline in commodity prices. The interest rate hike will accelerate the return of the dollar, which will lead to the rise of the dollar index, thus weakening the competitiveness of U.S. exports. And the rise in commodity prices will make import prices rise, which in turn will be transmitted to domestic prices, thus exacerbating inflationary pressure.

Meanwhile, the U.S., in order to stimulate the economy, put a large number of U.S. dollars into the market and cut interest rates sharply, which directly led to a sharp rise in the price of dollar-denominated commodities. The expected rise in the rate of inflation has led to a rise in demand for the dollar, putting pressure on the dollar to appreciate and making U.S. exporters less competitive, thus exacerbating the trade deficit to some extent. Both of these are unfavorable to the trend of the dollar, which in turn further drags down the dollar index, leading to RMB appreciation expectations.

At the same time, in the face of uncertainty about trade between the United States and China, the country will support the development of the real economy through monetary policy, tax policy, fiscal policy, which leads to high prices. With the increasing downward pressure on the global economy, especially the changes in the U.S. economic policy, will have an increasing impact on the Chinese economy and even society as a whole. In terms of China's economic policy, the U.S. tax cut program will force further tax reforms in China. In the process, the Chinese economy may face considerable downward pressure and a slowdown in economic growth. Demand from China has become smaller and smaller in the wake of the epidemic, and the contraction of the global economy has made the outlook for global commodity markets even more bleak. As the U.S. keeps raising interest rates, China is hardly alone in tightening its monetary policy for the foreseeable future.

Overall, the expected U.S. inflation of 4.6 percent is the result of interest rate hikes that have not had the desired effect. This has a big impact on the development of the global economy, as well as the economic recovery of other countries. The impact on the U.S. economy will be huge, and now there are already financial institutions on the U.S. economic growth is expected to make a substantial downward adjustment, and some people even think that the U.S. recession will come early.