Daily Briefing — August 12, 2026 | The CPI Report That Could Decide the Fed's Next Move

<p>Markets brace for the July Consumer Price Index, the most consequential inflation data left before the Fed&#39;s September meeting, with economists expecting the annual rate to ease slightly to 3.4% even as a rebound in the monthly figure is expected after June&#39;s unusually sharp decline. We cover why today&#39;s number matters so much for Fed Chair Kevin Warsh after last month&#39;s split 9-3 hold, and look back at two straight down days for stocks driven by fading hopes for a Strait of Hormuz resolution, including Alphabet&#39;s fourth losing session in five. We also cover real, measurable supply tightening through the strait as crude exports fall and Saudi Aramco delays a refinery restart, gold&#39;s stretched but still-remarkable August rally, and today&#39;s earnings from Cisco and Bloomin&#39; Brands. This episode is for informational purposes only and does not constitute financial, investment, legal, or tax advice.</p>