Fed Chair Kevin Warsh signaled at Jackson Hole that the central bank remains committed to hawkish inflation control, indicating potential for additional rate hikes if inflation doesn't converge to the 2% target. This sparked an immediate 1,600-baht drop in gold prices, reflecting market repricing of rate expectations. Thai SMEs and investors should monitor Fed policy closely, as tighter US monetary policy typically strengthens the dollar, affecting import/export costs and borrowing conditions.