Odds rose after Warsh's speech in Jackson Hole, Wyo., where he discussed that he still is frustrated with the overall inflation trend.

Deutsche Bank predicts Fed rate hikes in September and December. Rate pause in next three meetings at 49% YES.

The market has likely already baked the expectation of a single rate hike before the year ends into share prices.

Right now, the best high-yield savings accounts have interest rates of around 5%. This means if your savings account earns anywhere near the national average ( under 0.50% ), you can give your savings a massive boost by opening an account with a higher rate of return.

By Howard Schneider WASHINGTON, Aug 25 (Reuters) - The U.S. Federal Reserve will need to raise interest rates soon unless coming data show a continued decline in inflation that remains too high and which has become a "pervasive" concern for businesses and households,