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Commentary
September 16, 2026

FHN Financial Inflation Lab: September 2026

FHN Financial Inflation Lab: September 2026

Heading into today’s Fed meeting, the gap between CPI and PCE inflation is far more important for the path of monetary policy than any interesting details in last week’s August CPI. Given the 4.1% unemployment rate is close to Fed officials’ long-run estimate for the natural rate, policymakers are focusing on inflation risks and signaling a willingness to tighten policy.

Click here to read this issue of the Inflation Lab.

Authors

Will Compernolle

Will Compernolle

Macro Strategist

FHN Financial Inflation Lab: September 2026 - FHN Financial