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One softer-than-expected monthly inflation reading didn’t stop Federal Reserve officials from delaying the expected start of interest rate cuts. On the same day that core consumer price index (CPI) inflation registered its softest monthly reading in almost three years, the Fed adjusted higher its estimate for where its policy rate would land at year-end. ...
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The cryptocurrency market failed to get on the growth rails, losing 0.7% in 24 hours to $2.44 trillion, near end-of-day levels on Wednesday. The positive effect of the soft inflation report was erased by the Fed’s comparatively tightening stance, which suppressed appetite for risk assets. This is clearly visible in the demand for cryptocurrencies despite ...