It's exceeded expectations again. The US October CPI rose 0.4% month-on-month, below the expected 0.3%; core CPI rose 0.3%, below the expected 0.2%. This morning, Fed Governor Waller just said that if core CPI reached 0.3%, a 50 basis point rate hike should be considered in December, but the data directly hit that line. US stocks, gold, and BTC all plummeted. Last month I said that not raising rates in December would be a blessing, now it seems that even a 25 basis point hike would be a blessing.