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Analysts reporting to FactSet estimate the CPI will drop to 8%, but whether the decline is enough to encourage the Federal Reserve to ratchet back its monetary hawkishness remains unclear.
Republicans are increasingly confident they will take control of the U.S. Congress and it could be bullish for crypto, according to some analysts and traders.
The U.S. central bank raised the main interest rate by 0.75 percentage point, as expected. Officials say they'll monitor "lags" in the impact of "cumulative" efforts so far, possibly a tip that a dovish shift is being considered.
Speculation is mounting over when the Federal Reserve might pivot dovish. But economists, including Summers, warn any such move might lead to weakness in the U.S. dollar versus other global currencies, in turn driving up prices for imports.