Hot Inflation Raises Odds of Half-Point Fed Hike

Hot US inflation raised odds of a half-point Federal Reserve hike in December after October CPI rose 0.4% month over month, above the 0.3% forecast. Governor Christopher Waller suggested a 50-basis-point hike to protect credibility, pushing market pricing from 25 to 27 basis points. Bitcoin fell 2% to $73,274 while Ether dropped 5% to $2,028 as borrowing costs rise.