Bitcoin -> Rising Inflation and Slowing Growth: Next Fed Meetings Could Be Crucial

Last week’s data pointed to mounting pressure on both consumers and global manufacturing. U.S. personal income rose by 0.8%, but spending growth slowed to just 0.4%, highlighting a more cautious consumer amid rising inflation.

The Fed’s preferred gauge, the PCE index, climbed from 2.7% to 2.8%, while 1-year inflation expectations from the University of Michigan jumped to 5.0% from 4.3%, alongside another dip in consumer sentiment.

The Atlanta Fed’s GDPNow forecast for Q1 dropped sharply to -2.8% (gold imports), and the S&P Global Manufacturing PMI fell back into contraction, from 52.7 to 49.8.

Notably, markets didn’t react negatively to the 25% auto tariffs but sold off after the hotter-than-expected PCE print, suggesting concern that the Fed may stay on hold longer than risk assets would prefer.

The upcoming FOMC meetings on May 7, June 18, and July 30 will be pivotal.

Read our 'Major Crypto Drivers in the Weeks Ahead' Report: https://mail.10xresearch.co/p/major-crypto-drivers-in-the-weeks-ahead-5e29

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