Inflation is once again in focus now that the Fed has announced future decisions will be based entirely on data. CPI readings have been cooling for more than a year as the Fed has raised U.S. interest rates to their highest levels in more than 20 years. But getting to the central bank’s 2% target gets more difficult through the rest of the year. The July CPI report will play a major role in what comes next for the market and the economy.
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