Bitcoin and Gold Prices Crash As Core CPI Runs Hot
US inflation delivered a mixed signal in August, with headline consumer prices matching expectations while underlying inflation came in hotter than economists forecast. Bitcoin and Gold prices crashed in the immediate aftermath as the data adds fresh uncertainty for investors watching the Federal Reserve’s next policy move. August CPI Report Shows Core Inflation Sticky The The post Bitcoin and Gold Prices Crash As Core CPI Runs Hot appeared first on BeInCrypto.
Key Takeaways
- US inflation delivered a mixed signal in August, with headline consumer prices matching expectations while underlying inflation came in hotter than economists forecast.
- Bitcoin and Gold prices crashed in the immediate aftermath as the data adds fresh uncertainty for investors watching the Federal Reserve’s next policy move.
- August CPI Report Shows Core Inflation Sticky The The post Bitcoin and Gold Prices Crash As Core CPI Runs Hot appeared first on BeInCrypto.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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Core CPI rose a faster-than-forecast 0.3% in August, setting up possible Fed rate hike
The August CPI report had taken on outsized importance after Fed Chair Kevin Warsh two weeks ago suggested the central bank may have to act if inflation doesn't soon slow.