The New York Fed's October Business Leaders Survey, released Friday, showed that service sector selling price increases accelerated to their fastest pace since 2022, input cost growth remained strong, and supply conditions continued to deteriorate. Meanwhile, the overall business activity index fell 12 points from the previous month to -20.7, marking its weakest reading since March. Chicago Fed President Austan Goolsbee stated on Wednesday that there are few signs of improvement in services inflation, which needs close monitoring; Federal Reserve Chairman Warsh, on Thursday evening, remained vague about the future policy path. Service sector price pressures have re-emerged as a central variable for the Federal Reserve's policy path, with markets widely expecting another rate hike this year.