Odaily News Jason Pride, director of investment strategy and research at wealth management firm Glenmede, said that what these inflation data do for the Fed is that it lays the first foundation for them to cut interest rates later this year. If the market is worried that the Fed will not cut interest rates at all, tonight's CPI report only eases some of the concerns. It does not put the Fed on track to start cutting interest rates immediately, because they need a few more reports to gain some confidence. (Jinshi)