September Inflation Data to Shape Fed Rate Hike Outlook

Core PCE inflation forecast to rise 0.3% MoM and 3.7% YoY in September.

Markets could overlook data after Q3 GDP report showed inflation.

Lower summer inflation readings were favorable per Fed's Powell.

September CPI data was less encouraging to Powell.

Until December meeting, October and November CPI and jobs data will guide rate hike outlook.