US inflation remained steady in July, boosting expectations for a potential interest rate cut by the Federal Reserve next month, despite rising underlying prices and ongoing pressure from President Donald Trump.

• Consumer prices rose 2.7% in the year to July, consistent with June, while core inflation, excluding food and energy, reached 3.1%—its fastest pace in six months.
• Seema Shah, chief global strategist at Principal Asset Management, anticipates a September rate cut by the Federal Reserve to stimulate the US economy.
• President Trump continues to demand lower interest rates and has threatened a “major lawsuit” against Fed Chair Jerome Powell amidst ongoing tariff concerns.