Hot CPI Print Shakes Fed Cut Bets as Inflation Tops Forecasts
U.S. inflation accelerated more than expected in April, rattling crypto markets and reinforcing fears that the Federal Reserve may keep interest rates higher for longer. Bitcoin and other risk assets turned volatile after headline CPI rose to 3.8% year-over-year, above Wall Street expectations of 3.7%, while core inflation also came in hotter than forecast. Inflation...
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