Analysis: It is not typical for the U.S. Federal Reserve to hike interest rates in October or November ahead of the midterm elections, with the market closely monitoring remarks from Waller.

U.S. September CPI rose 3.7% year-over-year and 0.6% month-over-month, while core CPI increased 2.6% YoY and 0.3% MoM, both exceeding market expectations. Following the inflation data release, market bets on the Federal Reserve raising interest rates by 25 basis points in October climbed to around 40%, up from roughly 20% the previous day. The Fed just implemented a 25 basis point rate hike last month, its first increase since 2023. The next interest rate decision is scheduled for October 28, ju

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