Fed Watch: What the 3.5% CPI Reading Means for Markets
The June inflation report handed the Federal Reserve its best headline number since 2024. Consumer prices fell 0.4% month-over-month in June, pulling the annual rate down to 3.5% from 4.2% in May, the sharpest single-month drop since April 2020. With the Fed's July 28-29 meeting now six days away, the question investors are weighing is simple: does this number give Chair Kevin Warsh the cover he needs to stay on hold, or does the story underneath complicate things? Key Takeaways June CPI fell to 3.5% year-over-year, down from 4.2% in May, the largest one-month decline since April 2020, per BLS data released July 14. Energy prices drove the entire move, dropping 5.7% in June after a 10.9% spi…
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