$BTC
Today’s numbers have made a Fed rate hike pretty much a non-starter, innit?
ADP reckon 90,000 private jobs were added in September, beating the 73k expectation, while August's figures got knocked down to a paltry 36,000. At the same time, the core PCE price index rose by 0.2% in August—lower than the expected 0.3%—and annual core inflation settled at 3.0%, which is also under what everyone was thinking, like
Now, the government went and changed how they measure free categories in the PCE—investment advice fees, software, and legal services—and recalculated the whole lot back to 2021
Advisory fees go up when portfolio values jump even if the fee rate stays the same, so this new way strips that fake bump right out of the inflation figure
Analysts figure this twist alone shaved up to 20 basis points off the core PCE reading, with July’s inflation copping a 30-basis-point downward revision in the very same report.
Mind you, part of today’s drop in inflation is the real deal, not just some tweak in the methodology
$ETH
That mix of solid jobs and cooler inflation—even accounting for the formula shift—takes away any excuse for the Fed to go bumping up interest rates
Proper good for the markets, this is. A right boost for stocks and risk assets, led by Bitcoin and crypto, which thrive when monetary tightening gets binned and there’s more cash floating around to invest in digital gear
$ZEC
#Fed #USGovernment #KevinWarshNewFedChair
Today’s numbers have made a Fed rate hike pretty much a non-starter, innit?
ADP reckon 90,000 private jobs were added in September, beating the 73k expectation, while August's figures got knocked down to a paltry 36,000. At the same time, the core PCE price index rose by 0.2% in August—lower than the expected 0.3%—and annual core inflation settled at 3.0%, which is also under what everyone was thinking, like
Now, the government went and changed how they measure free categories in the PCE—investment advice fees, software, and legal services—and recalculated the whole lot back to 2021
Advisory fees go up when portfolio values jump even if the fee rate stays the same, so this new way strips that fake bump right out of the inflation figure
Analysts figure this twist alone shaved up to 20 basis points off the core PCE reading, with July’s inflation copping a 30-basis-point downward revision in the very same report.
Mind you, part of today’s drop in inflation is the real deal, not just some tweak in the methodology
$ETH
That mix of solid jobs and cooler inflation—even accounting for the formula shift—takes away any excuse for the Fed to go bumping up interest rates
Proper good for the markets, this is. A right boost for stocks and risk assets, led by Bitcoin and crypto, which thrive when monetary tightening gets binned and there’s more cash floating around to invest in digital gear
$ZEC
#Fed #USGovernment #KevinWarshNewFedChair
