Fed Signals No Rate Cuts as Inflation Moderates

Federal Reserve Chair Jerome Powell made clear that rate cuts are not in the cards anytime soon despite encouraging inflation data. His remarks Tuesday acknowledged progress on price pressures, but the central bank's stance remains firmly in wait-and-see mode rather than pivot territory.

Key Takeaways July CPI fell 0.01% month-over-month, while PPI dropped 0.70%. Powell stated inflation remains "still too high" despite progress. The Fed is unlikely to cut rates until inflation sustainably approaches 2%. Bonds rose 0.17% while gold and silver declined on the mixed message. The data tells an interesting story. Consumer prices in July showed their first monthly decline since late last year with…