Consumer Price Index data revealed annual inflation at 3.4%, a slight decline from June’s 3.5% reading. Market sentiment shifted toward anticipating a Federal Reserve rate pause in September. Wall Street registered modest gains Wednesday following the release of July’s Consumer Price Index, which aligned precisely with analyst forecasts and provided markets with a catalyst for upward movement. He characterized the data as neutral for fixed-income markets and noted the absence of any compelling catalyst for Federal Reserve action ahead of September. Following the inflation release, market participants adjusted their Federal Reserve rate outlook.