The S&P 500 (^GSPC) turned red Wednesday morning after the release of August's Consumer Price Index (CPI) report, as investors digest the inflation figures.

IG North America CEO JJ Kinahan joins Morning Brief hosts Brad Smith and Seana Smith to discuss the August inflation print and how it could affect the Federal Reserve's policy decision next week.

"I don't think it really changes their [Fed officials] assessment of things" Kinahan said, adding that "it seems that the market has already basically built in the fact that they're going to take 25 basis points."

Kinahan indicated the August CPI report didn't give "any clarity one way or the other" about potential rate cuts, but noted that "one thing that does stand out to me on there, however, is that the core prices for food and energy really didn't move" which is "one area where the average person would really like to see things move."

"We may see the energy prices next month come down as we have seen crude oil (CL=F, BZ=F) sell off quite a bit over the last week or so," where Kinahan thinks "we need to see things start to come down before it truly helps the economy."

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This post was written by Naomi Buchanan.