Jeffrey Cleveland and Ben Ayers break down Friday’s CPI report, one of the few blockbuster economic data releases during the government shutdown. Jeffrey thinks the data is “really good news” as it shows inflation softening. Ben points out that tariffs are still not hitting prices like people feared, and maybe we won’t see an increase at all. They discuss what the Fed will take away from the report and how it could affect their rate cut decisions, with the October meeting beginning on Tuesday.