Tuesday's Final Takeaways: Kevin Warsh Speaks as CPI Cools

• June CPI cooled more than expected (headline 3.5% annually, core 2.6%), leading to market relief and declining Fed rate hike expectations.
• Former Fed Governor Kevin Warsh testified on the Fed's primary objective to 'get monetary policy right' to combat inflation, which he called a 'tax'.
• Upcoming economic data includes PPI, with major earnings reports expected from ASML, Morgan Stanley (MS), Johnson & Johnson (JNJ), United Airlines (UAL), and JB Hunt (JBHT).

The video highlights positive market reactions to cooling June CPI data, which eased concerns about aggressive Fed rate hikes. However, it also cautions about potential inflation re-ignition from geopolitical tensions and rising oil prices. Former Fed Governor Kevin Warsh reiterated the Fed's commitment to controlling inflation.