Fed: No rate cuts on the horizon, strategist says

Wednesday's CPI data is expected to show inflation rose in August, with economists expecting an increase of 3.6%. The Federal Reserve has been raising interest rates in a bid to bring inflation down to 2%, but the recent increase in oil prices could complicate things. Verdence Capital Advisor's CIO Megan Horneman weighs in with Yahoo Finance's Julie Hyman and Akiko Fujita explaining how oil prices may not have an immediate impact on inflation, but they could as they work their way through the supple chain. Horneman believes that the Fed will pause in September, but "we do think there's much more likelihood of another rate increase at some point this year and we don't think rate cuts are anywhere on the horizon."