Wholesale inflation came in cooler than expected in October, but it’s still running hot. 🔥 📊 PPI: +0.3% m/m (vs. 0.4% expected) 📈 Annual rate: 6.5%, the highest since Nov 2022 ⚙️ Core PPI: +0.3%, in line Markets are fully pricing in a 25 bp Fed hike on Dec. 8-9. Chicago Fed’s Goolsbee says inflation is “going the wrong way.”