Skyler Weinand, chief investment officer at Regan Capital, said August's CPI "was in line with expectations, allowing the Fed to continue cutting rates at its September meeting, albeit by a smaller 25 basis points." He said the data opened the door for the Fed to deal with rising unemployment. Weinand expects the Fed to cut interest rates five to six times over the next year. The CME Fed Watch tool shows that the probability of the Fed cutting rates by 25 basis points next week rose from 71% to 85% after the inflation data was released, and the probability of a 50 basis point cut fell from 29% to 15%.