🏦 WALL STREET SHIFTS TOWARD A FED RATE HIKE
The Federal Reserve begins its two-day policy meeting tomorrow — and the macro setup has changed significantly.
August U.S. CPI rose:
• +0.4% month-over-month
• +3.4% year-over-year
• Core CPI: +0.3% month-over-month
Following the hotter inflation data, both Goldman Sachs and JPMorgan shifted their September forecasts to a 25-basis-point rate hike.
JPMorgan also expects another hike in December.
For Bitcoin, this matters because higher rates can strengthen the dollar, lift bond yields and make risk assets less attractive at the margin.
The Fed decision arrives Wednesday.
💸 @BitcoinNews
$BTC
The Federal Reserve begins its two-day policy meeting tomorrow — and the macro setup has changed significantly.
August U.S. CPI rose:
• +0.4% month-over-month
• +3.4% year-over-year
• Core CPI: +0.3% month-over-month
Following the hotter inflation data, both Goldman Sachs and JPMorgan shifted their September forecasts to a 25-basis-point rate hike.
JPMorgan also expects another hike in December.
For Bitcoin, this matters because higher rates can strengthen the dollar, lift bond yields and make risk assets less attractive at the margin.
The Fed decision arrives Wednesday.
💸 @BitcoinNews
$BTC
