The Bitcoin Layer
Macro Update: CPI Cools, Shelter Inflation Tanks & Fed DELAYS Cuts
Jun 12, 2024
The podcast discusses the cool CPI data, Fed's delay in rate cuts, and Powell's dovish remarks. It explores inflation, labor market trends and how they impact asset prices. The episode also dives into Bitcoin investment analysis with a special offer from River.
26:59
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Quick takeaways
- The CPI print showed lower than expected results, led by shelter inflation decline, influencing rate expectations and asset prices positively.
- The Fed remains cautious about inflation levels above the 2% target, monitoring labor market developments and maintaining flexibility in monetary policy decisions.
Deep dives
Fed Decides to Keep Rates Unchanged
The Federal Reserve, in its seventh consecutive meeting, opted to maintain interest rates at the current level, aligning with market expectations. Powell's messaging exhibited a hawkish yet flexible stance, emphasizing the ongoing disinflationary progress. Despite acknowledging the labor market improvements, concerns were raised regarding potential overstatement in labor data, impacting prevailing economic narratives.
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