Lianxin Bank chief economist Bill Adams said July CPI (Wednesday) and PPI (Thursday) will likely carry more weight for the Fed's next decision than this month's jobs report. Economists expect July CPI YoY to slow to 3.4% from 3.5% in June (4.2% in May); weaker gasoline-price volatility is a key driver. Stable oil-product prices should also slightly cool PPI, and core CPI may improve as housing inflation moderates. If the prints match expectations, they would support a Fed pause at the Sept. 16 m

Lianxin Bank chief economist Bill Adams said July CPI (Wednesday) and PPI (Thursday) will likely carry more weight for the Fed's next decision than this month's jobs report. Economists expect July CPI YoY to slow to 3.4% from 3.5% in June (4.2% in May); weaker gasoline-price volatility is a key driver. Stable oil-product prices should also slightly cool PPI, and core CPI may improve as housing inflation moderates. If the prints match expectations, they would support a Fed pause at the Sept. 16 meeting, though August jobs and CPI data — due before the meeting — could still change that outlook.