Key Fed Inflation Rate Makes Rate Cut A Lock; S&P 500 Rallies

The Federal Reserve's primary inflation rate continued to show limited price pressures from tariffs, setting the stage for a third-straight rate cut at next week's policy meeting. The stale September inflation data, delayed for nearly two months by the government shutdown, won't keep the Fed from cutting to manage the risk of a labor market that appears stagnant and maybe worse. The overall personal consumption expenditures price index rose 0.3% on the month, putting the 12-month inflation rate at 2.8%.