WAY too soon for rate cuts. A more permanent hold on rate increase is more like it IF the inflation is really down. Honestly I don't think we are out of the woods yet on inflation. One low inflation number doesn't determine the whole trend. We have been there before where we get one low number for one month and then the next month it goes back up much higher and we even find out the previous months number was not even correct and had to be revised higher. Imo I highly doubt this month's CPI is 2% and wouldn't be surprised if there is a revised-up next month.

