Recent softer-than-expected August core PCE at 0.2% month-over-month, below the 0.3% consensus and leaving the year-over-year rate at 3.0%, has anchored trader sentiment for the September reading amid a Fed tightening bias. Following the September FOMC hike to a 3.75-4.00% target range and projections for one additional increase by year-end, the soft print and associated methodology revisions have tempered October hike odds while highlighting risks of reacceleration in services and energy components. Market-implied odds cluster around 0.2-0.3% for September as participants weigh persistent above-target inflation against cooling momentum, with the late-October release and subsequent FOMC meeting serving as key near-term catalysts that could shift probabilities based on spending trends and revisions.