 This is a disinflation story. It's here, and it has been here. It's been under the hood and been hidden. Federal Reserve Bank of Chicago President Austin Goolsbee described the latest inflation data as excellent, adding the figures provide the evidence the central bank is on a path to its 2% goal. Goolsbee declined to offer guidance on the timing of the first interest rate cut, but markets are clearly pricing in September. I'm John Tucker, Bloomberg Radio.