The U.S. August CPI data was just released, and it’s pretty much as expected. Broad CPI was forecasted at 3.4%, and the actual figure is also 3.4%. Although it hasn’t decreased, as long as it doesn’t rise, that’s good news—it shows that, at least for now, U.S. inflation isn’t too bad. Of course, everyone knows that as long as the Hormuz issue remains unresolved, inflation will inevitably fluctuate again. Especially for September, inflation is very likely to rise—and rise quite a bit. In other words, if we don’t want the Fed’s rate hike expectations to increase, Trump better resolve the Hormuz issue before the October FOMC meeting. Alternatively, he could hope Iran opens up the shipping lanes for certain countries, but I think the chances of that happening before the midterm elections are pretty slim. Looking at the monthly inflation rate, it’s already climbing quite significantly. So even though core inflation is currently lower than last month’s previous value, September’s data might not look so good. Overall, today’s data should have been decent since inflation matched expectations. But the CPI monthly rate being a bit high still makes investors worry that the Fed might take a more aggressive stance. PS: Later on, the University of Michigan’s one-year inflation expectations might also be a bit of a headache. @Gate Crypto, U.S. stocks, Hong Kong stocks, Korean stocks, gold, CFDs, prediction markets—all in one place for trading.