A very strong employment report
Nonfarm payroll employment rose by 254,000 in September
The unemployment rate dropped to 4.1%
Revisions are 72,000 for July and August
The June CPI was far milder than expected.
Core CPI rose 0.06% in June, lowering the 12-month rate to 3.27%, which is the lowest in three years.
The six-month annualized rate fell to 3.3%, the lowest since October.
And shelter is cooling (important). wsj.com/economy/central-bank…
Economists who produce detailed inflation forecasts expect the June CPI to have been relatively mild, following a lower-than-expected reading for May.
The median of these forecasts has the June core index up 0.22%, which would hold the 12-month rate steady at 3.4%