🚨CPI is expected at 2.9%.🚨
➜ Above 2.9% → Fed cuts, but only 25bps, more cautious.
➜ At 2.9% → 25bps cut locked in as the base case.
➜ Below 2.9% → Opens the door to a 50bps cut this month + more cuts this year → most bullish scenario.
Now we wait. Once the numbers hit, I’ll break down what it means for Sept 17.