Crypto Markets Analysis: CPI data shows inflation is still rising, but crypto investors are hoping the Federal Reserve breaks from its monetary hawkishness of the past year. GWilliamsJr_CMT reports
The U.S. Federal Reserve is in an apparent conundrum, wrestling with two scenarios.
Crypto markets favor the second option. Bitcoin and ether are up 5% and 4%, following Tuesday’s release of inflation data. But core inflation, which excludes volatile food and energy prices, rose to 0.5% from 0.4% in the prior month. On an annualized basis, U.S. consumers are paying more for everything across the board, with the exception of used cars and a mild contraction in gasoline. The narrative of troublesome inflation remains intact.
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