July CPI inflation eased to 3.4% as expected, while core inflation fell to 2.5%. What does the data mean for the Fed’s September rate decision?

The Fed's September rate decision hinges on July CPI data due August 12, with the FOMC already split 9-3 and inflation at 3.5% year-over-year.

Core inflation held at 2.5%, and that underlying pressure, not tariffs or oil prices, is why the Fed hikes interest rates in September