The Bitcoin Layer
Global Macro Update: Bitcoin Soars as CPI Falls
May 15, 2024
Global macro update covers CPI missing expectations, bitcoin surging over 5%, Federal Reserve policy, market reactions to inflation, recession and Ethereum watch, and analysis of various economic indicators and market trends.
42:54
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Quick takeaways
- Inflation remains a concern with CPI at 3.4% despite slight cooling in housing inflation, highlighting the need for continued monitoring.
- Anticipation of global interest rate cuts and accommodative monetary policies reflect concerns over economic growth, impacting market trends and risk appetites.
Deep dives
CPI Inflation Update: Housing Costs Cooling Slightly
Housing and shelter, major contributors to inflation, are showing a slight cooling trend with year-over-year inflation lowering from 5.7% to 5.5%. Although housing inflation has decreased, CPI remains at 3.4%, indicating that inflation is still a concern. Areas like household energy costs and food/utilities have seen price increases, with notable rises in car and home insurance.
