📢Odaily Planet Daily News! The PCE price index, the inflation indicator preferred by the Federal Reserve, recorded an annual rate of 2.7% in March, and the price increase was still stubbornly above the central bank's 2% target. Core PCE rose 2.8% year-on-year. 📈After the report was released, U.S. stock index futures rose slightly and bond yields fell slightly.

🔍Economists had previously expected the overall PCE to rise 2.6% year-on-year and the core PCE to rise 2.7%. From February to March, both the overall and core PCE rose 0.3%. A series of higher-than-expected inflation data this year has put the Federal Reserve in a difficult position.

🔮Entering 2024, investors expect the Federal Reserve to cut interest rates sharply this year as inflation cools. However, the opposite is true, and inflation data has been undermining expectations of rate cuts. According to CME data, investors currently expect the Federal Reserve to keep interest rates unchanged by the end of the year with a probability of nearly 20%. A month ago, the probability was less than 1%. This may be good news for Bitcoin! 🎉🚀