PCE Price Index increased by 0.6% in January, up 4.7% compared to a year ago. The red-hot inflation could tip Fed to continue raising rates, impacting the crypto market. Inflation rose in January, which could push the Fed to continue hiking rates, potentially impacting the crypto market. According to the Bureau of Economic Analysis (BEA), […]
The red-hot inflation could tip Fed to continue raising rates, impacting the crypto market.
The Fed reportedly prefers the PCE over the Consumer Price Index to gauge inflation. One of the main reasons behind PCE preference is its broader scope and ability to gauge the economy’s strength.t also tracks how price changes influence spending behavior. Additionally, the PCE Price Index tracks price changes and inflation over time.
That said, it is worth noting that PCE and PCEPI rose by 1.8% and 0.6%, respectively, in January. It implies that the Fed could be put in a position to consider hiking rates further, thus confirming the higher-for-longer rate narrative that spread market uncertainty in the past few days.U.S. equities markets already closed in the red on Friday , as bearish sentiment swept the market.
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