Wholesale Prices Stall, But a Fed President Wants Rates Higher Anyway

A surprisingly flat Producer Price Index report boosts hopes for a September rate cut, but Cleveland Fed President Beth Hammack's dissent shows the inflation fight isn't settled. Plus, Databricks hits a $190 billion valuation, and the U.S. budget deficit posts its biggest July shortfall since 2021. In this episode: • Wholesale prices were flat in July, below expectations for 0.2% increase — https://www.cnbc.com/2026/08/13/wholesale-prices-were-flat-in-july-below-expectations-for-0point2percent-increase.html • Fed should raise rates to restrain growth and inflation, Hammack says — https://news.google.com/rss/articles/CBMitAFBVV95cUxNVHBQbGpaRk5FcmRfWTlhRmNHeFJiWlpOY2pyY25qdzFka19seGhUU29vMWlvVkxzdW1oMUtYVjN0bU1WNzBsRzZxOS1BLWdRRXVPdDdBdGdPVFRSU2dMZWtXbHZQcmZHTFdhQVU1RXNBYVVyZUdoTjE1RmluSXRxUUpkQXFqUkRXR0RHZ3Fxakh4dEJYY0FUM2toSTNyMFlCc3VpTHlCVTZUbGMtZGZFN0hkVG8?oc=5 • Databricks wraps $5 billion funding round at $190 billion valuation — https://www.cnbc.com/2026/08/13/databricks-funding-round-190-billion-valuation.html • U.S. budget deficit surged in July to highest level since March 2021 — https://www.cnbc.com/2026/08/12/us-budget-deficit-surged-in-july-to-highest-level-since-march-2021.html