This week’s inflation data provided more evidence that the Federal Reserve is nearing its objective, fresh on the heels of the central bank’s dramatic interest rate cut just a few weeks ago.

Most investors were expecting the Federal Reserve to cut rates by 0.25% or 0.50%. The move was already well-baked into the market, so it’s not surprising to hear they went for the full 0.50%. But this is only the beginning of a series of cuts expected over the next year or two.

The Federal Reserve has been chasing the 2% inflation target for years. Now, with new inflation data from September, it looks like they’re getting close. The consumer and producer price indexes came in where the Fed expected,