Speaking at the Jackson Hole symposium (27-29 August), Fed chair Kevin Warsh said inflation remains above the 2% target and the Fed's focus is on prices. Markets now expect a rate hike at the September FOMC meeting. For a Thai SME this is indirect: higher US rates can firm the US dollar and push up imported costs and loan rates over time. Review USD-linked import costs and any floating-rate loans, but no action is needed yet.