October's Consumer Price Index (CPI), which measures changes in the cost of consumer goods and services, showed that annual inflation rose by 2.6%. That's not an alarmingly high rate of inflation. It's also only a modest uptick from September's CPI reading, which measured annual inflation at 2.4%.

The Fed lowered rates by 25 basis points to a 20-month low, but economists say tariffs may throw a wrench in the rate cutting cycle.