Inflation kept cooling in October, so is the Fed done hiking interest rates.

If the data on inflation combined with recent signs that job growth has been slowing down.

If that continues, then there really wouldn't be much of a reason to raise interest rates again.

And small businesses were hit hard by higher rates, how they're coping.

Plus, the House approves a GOP plan to avert a government shutdown.

It's Tuesday, November 14th. I'm Anne Marie Fertoli for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today. the Federal Reserve's historic interest rate increases could finally be over.

A broad slowdown in inflation continued last month.

Consumer prices were overall flat, according to the Labor Department.

They rose 3.2% from a year earlier.

Core prices, which exclude volatile categories like food and energy,

rose just 0.2% in October, and were up 4% from a year earlier,

the slowest since 2021.

Core inflation is often viewed as a better predictor

of inflation's future trajectory

than the overall numbers.

The latest report sent stocks and bonds rallying

as investors concluded that the Fed's rate hikes are

likely done. For more on that I'm joined now by our chief economics correspondent Nick Timrose.

Nick is this a turning point? Well yeah it is it is a turning, but it's the continuation of the turning point

that we saw beginning in June, where price pressures

slowed notably.

...