Peter Schiff criticized the July CPI figure as misleading, attributing the modest 2.9% increase to a significant drop in used car prices. He warned that the market, which expects a September rate cut, will crash if the Fed does not deliver. The Core CPI rose by 3.2%, consistent with expectations but still above the Fed's 2.0% target. Mohamed El-Erian also criticized the Fed for not reducing rates in July, while Home Depot's CEO noted that inflation is affecting consumer spending on home renovations.