CPI Inflation Rate Is Heating Up Again. Here’s Why The Fed Will Stay Cool.

The consumer price index for August, out Wednesday at 8:30 a.m. ET, is expected to show the headline inflation rate moving higher for the second straight month, fueled by higher gas prices. Yet economists expect a third straight month of tame core CPI inflation, which should keep the Federal Reserve content to forgo further rate hikes and increase the chances of a soft landing.

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The S&P 500 fell modestly in Tuesday’s stock market action, dipping just below a key technical level as…