Why the Fed Is Watching Wholesale Prices More Than CPI

In this episode of The Macro Memo, Lucas and Luna break down the surprise 0.3 percent drop in wholesale prices reported on July 15, 2026, and what it means for the Fed's next move. With core inflation still sticky and the unemployment rate dipping to 4.2 percent, they explore why the Producer Price Index might be a more reliable signal than CPI right now. They also discuss how falling energy costs—especially gasoline—are reshaping the inflation outlook, and whether the Fed can afford to cut rates in the second half of 2026. A focused look at the data beneath the headlines, with specific numbers and real-world context. #WholesalePrices #PPI #Inflation #FederalReserve #FedPolicy #CoreCPI #GasolinePrices #ProducerPriceIndex #MonetaryPolicy #EconomicData #July2026 #InterestRates #LaborMarket #Unemployment #EnergyCosts #MacroMemo #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo