The underlying tenor of the data here doesn't suggest that it's a lock that you're going to get three rate cuts before the end of the year. But the deeper you dig here, it doesn't look so good. It looks to me like service sector inflation is not just sticky, but it's going to be stubborn.And the Fed's got a lot of heavy lifting to do in front of it to get back to 2% anytime over the next couple of years. Are there risks in the Fed cutting into this inflationary environment. There absolutely are risks.The Fe ...