July CPI rose 0.0% MoM (8.5% YoY)

What does this mean for the future of the economy?

Inflation is finally beginning to cool down.

Core CPI also came in below expectations at 0.3%

Falling energy prices and aggressive Fed rate hikes may finally be bringing the economy back on course.

The 8.5% YoY number is still a long way from the annual inflation targets, but it is definitely a positive trend from previous month's prints.

How did this CPI print affect expectations for other economic factors and markets?

Markets are predicting that the Fed is going to be less hawkish with rate hikes.

Expectations fell from 62% to 31% on whether the Fed will hike rates by 75 bps in September. kalshi.com/events/FED-22SEP/?utm_source=twitter-08-10-22&utm_medium=thread&utm_campaign=growth-free

Markets are now forecasting an 98% chance of the NASDAQ-100 being up today, which was at ~70% before the CPI print.
kalshi.com/events/NASDAQ100U-22AUG10/?utm_source=twitter-08-10-22&utm_medium=thread&utm_campaign=grow...

However, market forecasts for the S&P500 dropped, with expectations of it being up today falling from ~75% to ~45%
kalshi.com/events/INXU-22AUG10/?utm_source=twitter-08-10-22&utm_medium=thread&utm_campaign=growth-fre...

While this inflation print is a positive sign for the economy, there is still a lot of uncertainty that lies ahead.

Have on opinion on the path of the economy? Let us know:
kalshi.com/events/ECONPATH-22DEC/?utm_source=twitter-08-10-22&utm_medium=thread&utm_campaign=growth-f...