In this episode, Dustin Reid, Chief Fixed Income Strategist, shares his insights on two key macro developments that could reshape the Fed’s policy trajectory: July’s softer-than-expected US CPI print and significant downward revisions to recent job numbers. Dustin explains why these data points have prompted several Fed officials to warm to the idea of a September rate cut, and how tariff-related inflation, slowing private payrolls, and shifting rate expectations are influencing markets.

This episode was recorded on August 13, 2025.