The current market is expecting the Fed to cut interest rates, but concerns about recession could quickly overshadow and cause strong fluctuations.

The PPI last month surged due to oil prices and logistics costs, but this month is expected to return to normal, serving as a guide for the CPI.

The CPI on 11/9 is expected to remain high, and the decision now is not 'whether to cut or not' but how much the Fed will cut and the direction of interest rates for the remainder of 2025.