Ahmed Riesgo makes the case that the Fed does not need to raise interest rates, believing core inflation has not risen drastically enough to warrant a hike. Even if the FOMC raises rates, he expects small caps to continue a stellar rally seen in recent months. Ahmed turns to equities be measuring demand for AI memory, along with the runway it still holds for companies like Micron (MU) and SanDisk (SNDK). He then offers insights into the global picture and his outlook for third quarter.