Why Wednesday's CPI matters more than most. Officials have forecast that disinflation resumes once recent shocks fade. Instead the shocks keep overlapping and confidence in that forecast is slipping. A mild reading this week would validate the forecast and relieve pressure on Kevin Warsh after last month's press conference raised doubts about his strategy. A firm one raises the stakes for what he says next and for the September meeting. https://www.wsj.com/economy/central-banking/inflation-reports-could-test-warshs-tough-talk-3866e365?st=B7j68S&reflink=desktopwebshare_permalink(Nick Timiraos)