Stocks surged and investors' rate cut hopes climbed following Tuesday's better-than-expected inflation report. But simmering beneath the surface is an increasingly complicated economic picture. Ron Insana and David Gura join the 11th Hour to discuss.

Falling gas prices helped keep overall inflation tame in July; however, a broader array of products got even more expensive last month, showing that President Donald Trump’s expansive tariffs are being passed along to consumers.