The dream economic scenario might be back on the table, as inflation cools and growth surges

• US inflation cooled to just 3.2% in October, per Tuesday's Consumer Price Index report.
• Stocks surged after that data was released, while several Wall Street banks issued cheery forecasts.
• It's a sign the dream economic scenario – where the Fed reins in inflation without crushing growth or driving up unemployment – is still on the table.

Inflation cooled off in October – and that's fueled hopes from Wall Street to Main Street that the US economy may be headed for the best outcome possible after nearly two years of worry.