Odaily Planet Daily reports that recent data shows a modest rise in U.S. inflation in July. Coupled with Treasury Secretary Scott Bessant's comments that a 50 basis point rate cut is possible given recent weak employment data, the market is pricing in a near 100% probability of a September rate cut by the Federal Reserve. According to the CME Group's FedWatch tool, following the release of July CPI data and Bessant's comments, traders in the federal funds market on Wednesday projected a 100% probability of a 25 basis point rate cut at the Fed's September 16-17 meeting.