Stocks were bashed around last week, as concerns about a looming recession and economic slowdown combined with fear the Fed will go too far. U.S. equities are now at their mid-June lows. The Fed will use the job market to gauge if it needs to hold off additional hikes. The defining event of the week was the consumer price index (CPI) report. The CPI numbers for August came in above expectations and dimmed hopes the economy had moved beyond “peak inflation.”