July's PPI inflation report heightened worries over tariff-fueled consumer inflation and raised questions about the Fed's interest rate cut plans.

The producer-price index report released Thursday challenged Treasury Secretary Scott Bessent’s push for a 50-basis-point rate cut by the Federal Reserve in September, according to James Knightley, chief international economist at ING.

A hotter-than-expected wholesale inflation report just made the Federal Reserve’s decision regarding a September rate cut even harder, raising questions of whether higher prices for businesses will be passed on to consumers,