Tom Lee: August CPI Report Could Decide the Fed's Next Move

Fundstrat's Tom Lee says the September 11 inflation report is the key input for whether the Fed leaves rates unchanged.
- Fed Governor Chris Waller is reportedly leaning toward no hike if August CPI shows continued progress on inflation
- A hotter-than-expected CPI print could put a rate hike back on the table
- Waller believes current policy is still disinflationary, making August CPI a critical test for the Fed