The Federal Reserve looks poised to cut interest rates - or does it? This depends upon whether you consider what the Fed says it looks at – inflation and job growth – or read the minutes of its last meeting. Of course, the decision is catalyzed by the president’s jawboning the central bank to ease up on interest rates. On one hand, the economic data reports from this week would normally inspire the Fed to be more hawkish or, at least, stay the course. Consumer prices rose 0.1 percent in June and are up 1.6 percent in the past year. More significantly, the Fed focuses on "core inflation," which is the rate of price increases for sectors other than ag and energy. That rate grew 0.3 percent in June, the highest monthly incre...