After the CPI, the Federal Reserve's interest rate cut in September has "become a foregone conclusion"?
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The overnight U.S. CPI was lower than expected. Although both doves and hawks can derive some arguments from this, the market is almost "certain" about the Federal Reserve's rate cut in September (as shown by the brown line in the chart). Next, the most critical point is how Powell will "pivot" at the Federal Reserve's Jackson Hole annual meeting
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