According to CoinMeta, Fed officials' statements in October were intended to correct market bets on a series of rapid interest rate hikes, but inflation data did not cool down as expected. A report released by the U.S. Department of Labor on Tuesday showed that excluding food and energy, the core CPI inflation rate reached 3.7% for the three months ending in October, up from 1.6% for the previous three months in July, indicating a full rebound in inflation. These data almost certainly confirm that the Fed will raise interest rates at its meeting on December 8-9. Tiffany Wilding, an economist at Pinhao, said that last month's increase in core prices was seen in categories that are easily affected by tariffs, energy, and shipping costs, as well as in areas such as housing, entertainment, and other non-transportation services that are less impacted by these factors. Wilding noted that the current situation is different from the peak inflation rate of over 9% in 2022, but "this inflation report is very disappointing for the Fed."