Rusty Vanneman, Chief Investment Officer at Orion, recently analyzed that the latest Consumer Price Index (CPI) report was positive, despite the year-over-year overall inflation rate slightly declining to 2.9%, which was still better than the expected 3.0%. This data showed improvement compared to last month's figure of 3.0%. Vanneman also mentioned that the inflation data released this week, including the previous day's Producer Price Index (PPI) data, as well as the short-term inflation expectations reflected in markets and surveys, all reached multi-year lows. Considering these factors together, they further strengthened market expectations for the Federal Reserve to take rate-cutting action in September.