US inflation fell to 2.4% in September, slightly above expectations, reinforcing predictions of a Federal Reserve interest rate cut in November. Core inflation rose to 3.3%, and jobless claims jumped, prompting markets to price in a 90% chance of a quarter-point cut. While inflation has cooled for six months, progress is expected to slow. Despite economic uncertainty, the labour market remains strong with 254,000 jobs added in September. This economic picture, just before the November election, has drawn criticism from the Trump campaign, while Fed officials remain optimistic about a 'soft landing.'