Halloween came early for the Fed this year:
- CPI came in lower but missed expectations, core CPI inflation rose to 3.3% (first increase since March 2023)
- 258K people filed for unemployment benefits this week, above the 230K estimate
- The Fed's rate cut should have helped lower mortgage rates, but it did the opposite.
- September jobs report likely revised down due to incomplete data.
THIS IS THE FED'S NIGHTMARE: Keeping rates high is no good, and cutting rates is no good either.$BTC