I checked the data over the weekend—surprisingly, the core PCE annual rate for September actually declined, showing some signs that the inflation fire is finally cooling down a bit. The most direct reaction? Silver prices shot up to $59, a level we haven’t seen before.

On the other hand, Bessent is quite optimistic about the US economy, predicting GDP could hit 3%. But what the market cares about most right now is the same old question—when will the Fed finally signal a rate cut? The inflation data offers some hope, but Powell still hasn’t made any clear statements.

By the way, over in the Middle East, Hamas has said they’re willing to discuss disarmament, but only if talks about establishing a state come first. Geopolitical variables like these are worth keeping an eye on, too.