BeiChen Lin, senior investment strategist at Russell Investments, said in a note that October US CPI, even a slight upside surprise, could make a Fed rate hike in December all but certain. Strong employment and other signs of economic resilience reduce the Fed’s tolerance for inflation. Beyond the headline print, the breadth of inflationary pressures will be critical to the future policy path. Elevated mortgage rates are weighing on the housing market, which should help dampen some inflationary

BeiChen Lin, senior investment strategist at Russell Investments, said in a note that October US CPI, even a slight upside surprise, could make a Fed rate hike in December all but certain. Strong employment and other signs of economic resilience reduce the Fed’s tolerance for inflation. Beyond the headline print, the breadth of inflationary pressures will be critical to the future policy path. Elevated mortgage rates are weighing on the housing market, which should help dampen some inflationary pressure.