The first of two CPI prints before the next Fed meeting was a key focus point of traders heading into the week as tariff impact begins to make its way to US consumers. In the month leading up to this morning’s July CPI data, traders have increased bets that the Fed will likely cut rates by 25 bps at the next meeting following the most debated jobs report and revisions in years. July headline CPI came in in-line with expectations at 2.7% while core CPI came in a bit hotter at 3.1% (est. 3.0%). S…
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