U.S. Data Released: Bitcoin and Stocks Stay Steady!🚀🚀🚀🚀🔥🔥💥
🚨 BREAKING 🚨
🇺🇸 US CPI DATA CAME IN AT 2.4%
EXPECTATIONS: 2.5%
THIS IS BULLISH 🔥
The U.S. Bureau of Labor Statistics has released the latest Consumer Price Index (CPI) data for May. The report shows inflation rising to 2.5% year-over-year, in line with forecasts. Despite this slight uptick, Bitcoin, stocks, and altcoins held their ground, showing no big moves.
Let’s take a closer look at what this means for traders and the economy.
CPI and Core CPI Numbers Confirmed
The May Consumer Price Index (CPI) report revealed that inflation rose slightly compared to April, raising new concerns about the pace of economic cooling in the U.S.
Meanwhile, the year-over-year (YoY) headline CPI increased to 2.5% in May, up from 2.3% in April.
Similarly, Core CPI YoY, which excludes food and energy prices, ticked up to 2.9%, compared to 2.8% in the previous month. On a month-over-month (MoM) basis, the headline CPI held steady at 0.2%, while Core CPI MoM rose to 0.3%, up from 0.2% in April.
These small changes might not seem like much, but they could have a big impact on where the markets go.
What the Fed Will Do Next?
With inflation staying moderate, the Federal Reserve is likely to keep interest rates unchanged at its June 12 meeting. According to the CME FedWatch Tool, the chance of a rate cut in July is now low, pushing expectations further into late 2025.
Interestingly, prediction markets like Polymarket suggest there’s a 75% chance that the Fed might cut rates in 2025.
