Why inflation is heating up again, plus Bank of America misses after a $1.2 billion fine | The 8:30

Core inflation came in a touch hotter than expected in September, with headline CPI rising 0.6% on the month and 3.7% on the year, as energy prices re-accelerated and gasoline jumped 9.1%. Wolfe Research chief economist Stephanie Roth tells Julie Hyman, Jake Conley and Pras Subramanian the report makes the Fed's October meeting live. Plus Bank of America misses after a $1.21 billion Treasury fine, Morgan Stanley and BlackRock beat, ASML raises its forecast as chip demand soars, the debt markets behind AI data centers get tighter, an OpenAI employee is arrested for allegedly planting microphones in its offices, the ETF boom in the bull market, and HBO's Girls revival. Watch The 8:30 live weekdays 8:30-9:30am ET. 00:00 September CPI: Headline in line, core hotter 01:15 Energy prices spike again 01:27 Used car prices jump 02:02 Energy inflation re-accelerates 02:27 Gasoline and diesel prices surge 02:52 Motor oil up 9.3% 03:12 Prices re-accelerate across categories 04:25 Mortgage rates hit 7.5% 04:49 Airfares jump 05:28 Fed officials say there's no urgency 06:10 Wolfe Research's Stephanie Roth on the CPI report 06:26 Why the October Fed meeting is now live 07:20 Why is inflation so sticky? 08:21 Kevin Warsh vs. a patient Fed 09:23 Can the Fed tame inflation without crushing demand? 10:23 Why rate hikes don't slow the AI build-out 11:29 How high would rates have to go? 12:37 Will October be a contentious meeting? 13:27 Are bond markets doing the Fed's job? 14:46 Bank of America misses on earnings 16:37 The $1.2 billion Treasury fine 18:43 Morgan Stanley beats 20:17 BlackRock hits $15.5 trillion 22:02 What two days of bank earnings tell us 30:05 ASML raises its forecast as chip demand soars 32:47 What analysts wanted from ASML 34:35 Financing the AI data center build-out 35:19 Neocloud debt and bond yields 35:41 Elon Musk on data center financing 36:31 Investors push back on AI infrastructure debt 37:28 How accurately do firms forecast AI spending? 38:01 The Firmus IPO