U.S. June CPI fell 0.4%, likely cooling move toward Fed rate hikes

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The U.S. June CPI fell by 0.4%, which is expected to cool the trajectory toward Fed rate hikes. Consequently, the odds of a Fed rate hike have plummeted, potentially easing overall market concerns. However, the persistence of core inflation may still play a role in shaping future monetary policy. This shift in CPI data has directly impacted investor expectations regarding the Fed's next moves in response to current economic inflationary pressures.
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