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Journalist<\/p>\n<\/p><\/div>\n
Share this article<\/h4>\n<\/p><\/div>\n<\/p><\/div>\n\n\n- September\u2019s inflation rate reached 2.1%, nearing the Fed\u2019s target of 2%.<\/em><\/li>\n
- Bitcoin\u2019s value dropped to $69,263.81 amid profit-taking following a recent rally.<\/em><\/li>\n<\/ul>\n
Recent data shows the Federal Reserve\u2019s key inflation rate reached 2.1% in September, meeting expectations<\/a>. <\/span><\/p>\nThis rate was inching closer to the central bank\u2019s target.<\/span><\/p>\nBitcoins Fed inflation rate analyzed<\/strong><\/h2>\nA Commerce Department report on the 31st of October showed a slight uptick in inflation. <\/span><\/p>\nThe personal consumption expenditures (PCE) price index rose by 0.2% on a seasonally adjusted basis for the month. <\/span><\/p>\nThis twelve-month inflation rate of 2.1% aligned with Dow Jones projections. It suggested a steady movement toward the Fed\u2019s inflation goals amid ongoing economic assessments. <\/span><\/p>\nPCE data serves as the Federal Reserve\u2019s main indicator of inflation. Also, policymakers closely watch additional metrics to guide their decisions. <\/span><\/p>\nThe Feds aim to maintain an annual inflation rate of 2%. This target has not been achieved since February 2021. <\/span><\/p>\nCore inflation remains a concern for the Feds, with a recorded rate of 2.7%. This marked a 0.3% hike from the previous month.<\/span><\/p>\nBitcoins What\u2019s more?<\/strong><\/h2>\nAs per a post by Wu Blockchain<\/a>,\u00a0<\/span><\/p>\n\nThe U.S. core PCE price index for September was 0.3% MOM, in line with expectations of 0.3%, and the previous value was revised from 0.1% to 0.2%.\u00a0<\/span><\/p>\n<\/blockquote>\nIt further added,\u00a0<\/span><\/p>\n\n\u201cPCE inflation index has seen the largest monthly increase since April, supporting the Fed\u2019s slowing pace of interest rate cuts after a sharp cut last month.\u201d\u00a0<\/span><\/p>\n<\/blockquote>\nAs these figures unfold, markets anticipate the Fed to reduce the short-term borrowing rate at their meeting planned for the next week.<\/span><\/p>\nBitcoins Impact on the crypto market<\/strong><\/h2>\nThe recent release of key inflation data led to profit-taking in the cryptocurrency market. Bitcoin [BTC]<\/a> rallied to $73,000\u2014its highest since March. <\/span><\/p>\n
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- September\u2019s inflation rate reached 2.1%, nearing the Fed\u2019s target of 2%.<\/em><\/li>\n
- Bitcoin\u2019s value dropped to $69,263.81 amid profit-taking following a recent rally.<\/em><\/li>\n<\/ul>\n
Recent data shows the Federal Reserve\u2019s key inflation rate reached 2.1% in September, meeting expectations<\/a>. <\/span><\/p>\n
This rate was inching closer to the central bank\u2019s target.<\/span><\/p>\n
Bitcoins Fed inflation rate analyzed<\/strong><\/h2>\n
A Commerce Department report on the 31st of October showed a slight uptick in inflation. <\/span><\/p>\n
The personal consumption expenditures (PCE) price index rose by 0.2% on a seasonally adjusted basis for the month. <\/span><\/p>\n
This twelve-month inflation rate of 2.1% aligned with Dow Jones projections. It suggested a steady movement toward the Fed\u2019s inflation goals amid ongoing economic assessments. <\/span><\/p>\n
PCE data serves as the Federal Reserve\u2019s main indicator of inflation. Also, policymakers closely watch additional metrics to guide their decisions. <\/span><\/p>\n
The Feds aim to maintain an annual inflation rate of 2%. This target has not been achieved since February 2021. <\/span><\/p>\n
Core inflation remains a concern for the Feds, with a recorded rate of 2.7%. This marked a 0.3% hike from the previous month.<\/span><\/p>\n
Bitcoins What\u2019s more?<\/strong><\/h2>\n
As per a post by Wu Blockchain<\/a>,\u00a0<\/span><\/p>\n
\n
The U.S. core PCE price index for September was 0.3% MOM, in line with expectations of 0.3%, and the previous value was revised from 0.1% to 0.2%.\u00a0<\/span><\/p>\n<\/blockquote>\n
It further added,\u00a0<\/span><\/p>\n
\n
\u201cPCE inflation index has seen the largest monthly increase since April, supporting the Fed\u2019s slowing pace of interest rate cuts after a sharp cut last month.\u201d\u00a0<\/span><\/p>\n<\/blockquote>\n
As these figures unfold, markets anticipate the Fed to reduce the short-term borrowing rate at their meeting planned for the next week.<\/span><\/p>\n
Bitcoins Impact on the crypto market<\/strong><\/h2>\n
The recent release of key inflation data led to profit-taking in the cryptocurrency market. Bitcoin [BTC]<\/a> rallied to $73,000\u2014its highest since March. <\/span><\/p>\n
- Bitcoin\u2019s value dropped to $69,263.81 amid profit-taking following a recent rally.<\/em><\/li>\n<\/ul>\n