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Stephen Kates and Brian Mandelbaum unpack the August CPI report, noting that service inflation continues to rise despite tame top-line numbers. They highlight the stark spending divide between affluent and lower-income households, the impact of rising fuel prices on transportation and retail names like Amazon (AMZN) and Walmart (WMT), and Kates's view that a unanimous Fed vote on rate hikes would signal stronger resolve.

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Service Inflation, a Spending Divide, and a Fed Ready to Act

Schwab Network

Service Inflation, a Spending Divide, and a Fed Ready to Act