The Federal Reserve’s inflation gauge slightly increased, but won’t deter a potential rate cut in September. Core prices rose to 2.9% from a year earlier, the highest since February. Consumer spending improved. Tariffs are minimally impacting goods prices, with core goods prices unchanged. Fed Chair Powell expressed concern over job market strength. Fed Governor Waller pushes for a rate cut due to labor market risks. The next jobs report in September may determine a rate cut.

Read more at Yahoo Finance: Higher ‘core’ inflation reading unlikely to kick Fed off course for rate cut in September