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The August CPI report showed headline inflation in line with economist estimates, but core inflation was a bit hotter than expected. All-in-all though, the +0.6% rise in headline CPI and +0.3% rise in the core doesn’t change the calculus much for the FederalReserve rate policy. The Fed is still likely to sit tight at its next FOMC meeting on Sept. 19-20 to gauge the impact of past hikes on the economy and especially the job market.

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