Fellow villager, don’t go—good news is here!
In the U.S., August core PCE came in at 3.0% year-over-year, versus the market’s expectation of 3.3%. The month-over-month figure was 0.2%, below the expected 0.3%.
Right after the data was released, the U.S. Dollar Index fell to around 101. Gold jumped by $14, and $BTC surged by over $1,000!
Let’s translate that: there’s one fewer reason to justify another rate hike in October. New York Fed Chair Williams just said there’s no rush for a rate hike in October—so this is even more firmly nailed down.
Crypto can finally breathe a bit. But trying to make money just by relying on rate cuts to feast? Wake up—right now the discussion is still whether to raise rates. 🤡
In the U.S., August core PCE came in at 3.0% year-over-year, versus the market’s expectation of 3.3%. The month-over-month figure was 0.2%, below the expected 0.3%.
Right after the data was released, the U.S. Dollar Index fell to around 101. Gold jumped by $14, and $BTC surged by over $1,000!
Let’s translate that: there’s one fewer reason to justify another rate hike in October. New York Fed Chair Williams just said there’s no rush for a rate hike in October—so this is even more firmly nailed down.
Crypto can finally breathe a bit. But trying to make money just by relying on rate cuts to feast? Wake up—right now the discussion is still whether to raise rates. 🤡
