The core consumer price index increased 0.3% in September, slightly above forecast, leading to questions about whether the Fed will further slow the pace of interest rate reductions.
Ports are reopening today, as the longshoremen's union agreed with terminal operators and shipping liners to extend their previous contract through January 15.
"The most important thing is going to be for the carriers, shippers, and workers to come to terms. There's really no substitute for the ports being up and running."
Fed Chair Powell says rates will fall, but 'over time,' adding that the FOMC "is not a committee that feels like it's in a hurry to cut rates quickly."