U.S. inflation rose 2.6% on an annual basis last month, representing an uptick from September when the Federal Reserve began cutting interest rates amid signs of cooling prices and a weaker labor market.

While Wall Street rejoiced in President Trump’s decisive win in Tuesday’s election and the Federal Reserve lowered its key interest rate by a quarter point, many members of the dairy industry gathered in Chicago for the American Dairy Products Institute Dairy Purchasing and Risk Management seminar.

The Federal Reserve cut interest rates on Thursday for the second time in three months, likely setting the stage for a drop in borrowing costs.