Thursday's consumer price index report is Expected to show that the pace of price increases is slowing, with a monthly increase of 0.2% for July and a 12-month Rate of 3.3%. While this is good news, Inflation is still a concern and could last longer than expected. Chief economist Mark Zandi believes inflation is moving in the right direction but warns against being overly confident. Housing costs are dropping, and wage gains are abating, but health insurance costs and gas prices are expected to rise. The Federal Reserve may not raise interest rates further but will wait for inflation to reach its target before cutting rates. Former Fed Governor Richard Clarida believes the Fed should continue its rate-hiking cycle to fight inflation. The rate hikes have had minimal damage at the macro level, with GDP tracking at a 4.1% annualized growth rate. However, small businesses and household debt levels have been negatively impacted, leading to dissatisfaction among Americans. Retailers are cutting prices for large

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