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So the Consumer Price Index (CPI) coming in at 8.5% might be suggesting that inflation may have plateaued. So from the Fed's perspective, maybe 75 basis points from the last couple meetings is actually working. Or maybe just bureaucratic optimism of the Inflation Reduction Act passing has caused inflation to retreat. Either way, 8.5% inflation is still atrocious. On the bright side, we can always raise interest rates or pass more bills.

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