The larger-than-expected drop in the June Consumer Price Index inflation rate has fueled market expectations for interest rate cuts by the Federal Reserve. Investors no longer seem to have doubts and are assigning a 91% implied probability that rate cuts will begin as early as September 2024. The upcoming Producer Price Index (PPI) inflation report, scheduled for release on Friday at 8:30 a.m. ET, will be crucial in determining whether producer price trends can continue to support rate-cut expectations or temper the optimism. June PPI Preview: What Economists Expect Producer prices in June are expected to rise ...