The objective of this study is to obtain the unstable characteristics of the high-speed two-dimensional jet impinging normally onto a flat plate. The study is based on the feedback model and the experiment of the frequency characteristics of the impinging tones. Using the experimental data for the tonal frequencies of the impinging tones the convection speed of the unstable jet is obtained along with all the other features. Three kinds of unstable modes are clarified: asymmetric $A_{1}$ and $A_{2}$ and symmetric S. The condition for the excitation of each mode is found in terms of Strouhal number and Reynolds number. The convection speed is estimated and discussed in comparison with existing theoretical models. It is found that the convection speed increases with frequency when the mode is asymmetric, but decreases when it is symmetric. In addition, the characteristics of the high-speed impinging jet are compared with the low-speed impinging jet.