A weaker-than-forecast US Consumer Price Index print for October has the market excited again about a Federal Reserve pivot. But what exactly is a “pivot”? And when are Jerome Powell and his colleagues realistically going to make such a move? The timing of it will determine whether yields at the long end of the curve rise or fall. And a full pivot could kick-start another push higher in commodity prices. Will that cause inflation to re-emerge down the line? Real Vision’s Roger Hirst tackles your questions about the key macro issue of the day.