ChainCatcher news, "Fed's mouthpiece" Nick Timiraos wrote that the CPI data for July has cleared the way for the Federal Reserve to start cutting interest rates at its next meeting.Due to recent signs of potential weakness in the labor market, the debate at the Fed's September meeting will focus on whether to cut rates by the traditional 25 basis points or a larger 50 basis points. The inflation data released on Wednesday did not resolve this debate. Instead, this discussion may depend on labor market reports, including weekly initial jobless claims and the non-farm payroll report for August, which will be released on September 6. The inflation report released on Wednesday was relatively mild, but the strong rise in housing costs may dampen enthusiasm for the data. However, Fed leaders have already hinted that they are prepared to start cutting rates next month, partly because the inflation data for May and June was also much milder. (Jin Shi)