Eric Pachman and Jed Ellerbroek preview the CPI report and look at the latest FOMC minutes. Jed expects the Fed to continue to wait at this “pesky” level, lacking justification for cuts. “The economy’s growing, slowly,” he adds. Eric sees housing as a “tailwind to core inflation” that could be offset by gasoline prices or tariffs but warns that the CPI’s weighting means housing makes a big impact.