The US core inflation has risen but the FED will make a political decision in September to ease its rates.

Core PCE (MOM): 0.3% & Core PCE (YOY): 2.9%

US 1-year inflation expectation: 3.5% (Way above Fed's target - 2%)

5-year inflation expectation: 4.8%

We can see that the US inflation and inflation expectations have risen and the only reason that the US Fed will ease its rates in September is POLITICAL (to get Trump off the FED's back).  This doesn't bode well for the US because it means the US FED has lost its independence and it's making a decision based on politics.