September's U.S. Core PCE numbers just dropped, and they're painting an interesting picture. The year-over-year figure came in at 2.8% – exactly what analysts were expecting, but notably cooler than August's 2.9%.

This matters because the Fed watches this metric like a hawk when making rate decisions. The downward tick, even if modest, suggests inflationary pressures might be easing. For crypto traders, softer inflation data typically translates to less aggressive monetary tightening ahead, which historically benefits risk assets.

The fact that actual matched estimates shows the market's getting better at reading the room. No major surprises here, but the trend direction is what counts. Worth keeping an eye on whether this cooling pattern holds through Q4.