Crypto is having a tough week
The price of the digital token was hurt by the Federal Reserve’s Wednesday comments indicating fewer interest-rate cuts in 2025, which have dampened the mood for the equity market as well.
The latest key measure of inflation, the personal-consumption expenditures price index came in below expectations on Friday, rising at a monthly pace of 0.1% in November. While that is a slower price progression than the 0.2% economists polled by FactSet had predicted, the annual rate is still at 2.4%—above the Fed’s target of 2%.
