Inflation in the US has increased to 2.8% for October, raising concerns. Core PCE inflation has increased to 2.8% for October, which reflects the average amount of money consumers spend monthly. All three inflation gauges are increasing as well. Core CPI, PCE, and PPI inflation are now rising at the SAME time.
Inflation has leveled off above the Fed’s 2% target. The Core CPI has been above 3% for 42 consecutive months, which effectively means we have compounding inflation. President-elect Donald Trump’s proposed tariffs on China, Canada, and Mexico could also increase consumer prices and push inflation back up.
This could impact crypto markets as high interest rates are usually bad news for risk-on assets such as crypto since lower-risk cash-related investments become more attractive.
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