U.S. futures fell on Wednesday ahead of fresh data on consumer inflation as investors weighed whether a Donald Trump White House would increase price pressures.

Dow Jones Industrial Average futures contracts (YM=F) decreased by about 0.3%, as a result of a steep slide ca stocks closed lower across the board. Contracts on the S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) also decreased by 0.3%.

Inflation took center stage again after the post-election crisis hit a wall. The the FOMO market has lost its mojo as it accepts that President-elect Trump’s policies could boost inflation as well as the economy. This helped drive up Treasury yields, promising higher borrowing costs throughout.

It is now awaiting the consumer price index for October, seen as unlikely to show much progress on cooling inflation at the Federal Reserve’s target. The headline CPI reading is expected to come in at 2.6%, higher than in September, when it is released at 8:30 a.m. ET.

Investors will focus on the “core” print – which excludes food and gas prices – to provide the main indications of the Fed’s pace of easing after it cut interest rates by 0.25% last week. Many economists suggest that the prospect of higher Trump inflation will prompt the central bank to do so reduce rate reduction this cycle.

Read more: What Fed rate cuts mean for bank accounts, CDs, loans and credit cards

The Fed may have to reconsider another rate cut at its December meeting if inflation surprises “upward” over the next month, the Minneapolis Fed president said. Neel Kashkari told Yahoo Finance. “That might give us pause,” he said at Yahoo Finance’s Invest conference Tuesday.

Trump has named Tesla CEO Elon Musk and former GOP candidate Vivek Ramaswamy to lead a new Department for Government Efficiency. The incoming president’s choices for his cabinet are closely watched for their impact on his policies and the economy, although the DOGE is not a government agency.