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#CPIToResetFedBets The July U.S. CPI report, scheduled for August 12, could reset expectations for the Federal Reserve’s September meeting. July payrolls reportedly fell by 23,000, while May and June were revised down by a combined 103,000. The weaker labor picture reduced expectations for another rate increase. Economists now expect headline inflation to ease from 3.5% to around 3.4% year-on-year, with core inflation potentially slowing from 2.6% to 2.5%. A softer reading would support the argument that inflation is cooling without requiring further tightening, potentially benefiting equities, bonds and crypto. However, persistent services inflation or renewed energy pressure could keep the Fed cautious. The market reaction may depend more on housing and service components than on the headline figure alone. My view is that one favorable report could reinforce a pause, but it would not completely remove tightening risk. Investors should also watch real yields and the dollar because these channels often determine how strongly crypto responds.