Again, it exceeded expectations. U.S. October CPI rose 0.4% month-over-month, above the expected 0.3%; core CPI rose 0.3%, above the expected 0.2%. This morning, Fed Governor Waller just said that if core inflation reaches 0.3%, the Fed should consider a full 50-basis-point rate hike in December—and the data came in exactly at that level. Stocks, gold, and $BTC all plunged. Last month, I said not raising rates in December would be a blessing—but now, even a 25-basis-point hike would count as one. 🫠 https://t.co/7eGNng2HZo