Sticky services inflation is cooling expectations for rate cuts, putting short-term risk assets under pressure; however, Bitcoin’s inflation-hedge narrative is gaining strength, and the pullback may offer a window to observe.$BTC $ETH
News flash: Fed’s Goolsbee: Price pressures appear to be spreading, and services inflation has not eased
BlockBeats News, November 11: Fed’s Goolsbee said the latest government inflation report showed no improvement in underlying trends, which was “somewhat concerning.” Of particular note, price pressures appear to be spreading and are no longer limited to energy prices or AI-related sectors. Goolsbee said: “Services inflation has not eased, and this is likely not being driven primarily by oil prices, tariffs, or other factors that may prove temporary. So we are facing a real and evolving inflation problem that we must address.” “What concerns me is that this inflationary pressure is evolving into an overheated economy overall—with prices for all kinds of goods and services rising too quickly, well above our 2% inflation target.”
News flash: Fed’s Goolsbee: Price pressures appear to be spreading, and services inflation has not eased
BlockBeats News, November 11: Fed’s Goolsbee said the latest government inflation report showed no improvement in underlying trends, which was “somewhat concerning.” Of particular note, price pressures appear to be spreading and are no longer limited to energy prices or AI-related sectors. Goolsbee said: “Services inflation has not eased, and this is likely not being driven primarily by oil prices, tariffs, or other factors that may prove temporary. So we are facing a real and evolving inflation problem that we must address.” “What concerns me is that this inflationary pressure is evolving into an overheated economy overall—with prices for all kinds of goods and services rising too quickly, well above our 2% inflation target.”