If tonight's CPI meets expectations, the market will remain in a state of confusion, allowing the Fed to maximize its benefits. This way, at the 9/16 FOMC meeting, they can follow Waller's statement: if inflation hasn’t eased, raise rates. Or they can follow Waller's statement: if inflation hasn’t worsened, hold steady. This way, both of them are right. So sneaky, playing their cards so well.