A cooler July inflation reading has markets pricing in a 96% chance of a September Fed rate cut, though debate continues over its size. Treasury Secretary Scott Bessent is pushing for 50bps to offset missed opportunities earlier this summer, but some analysts warn that core inflation rising to 3.1% and upcoming jobs data could still delay action.

Investors are pricing in more than a 96% chance of the Fed cutting the base rate in September, following a cooler-than-expected inflation report for July, released yesterday.

But this isn’t the only pressure Jerome Powell and the Federal Open Market Committee (FOMC) are under: Analysts and politicians are also getting their orders in for how much of a cut they want to see.

Despite the fact that the FOMC has reiterated time and again that t

See Full Page