According to CoinMeta, market analysis indicates that the CPI report failed to prompt the Federal Reserve to change its policy direction. Karen Manna, the head of fixed-income investments at Federated Hermes, stated that this report, which was in line with expectations, did not provide enough new information, nor did it give the Federal Reserve a compelling reason to change its policy direction. At the same time, this report also means that the possibility of the Federal Reserve raising interest rates in the fourth quarter still exists. However, before taking such action, the Federal Reserve may need to see more evidence that inflation is accelerating again.