Bitcoin topped the key psychological level of $30,000 as investors awaited key inflation data later in the week that could steer crypto prices.
The personal consumption expenditures price index excluding food and energy was expected to rise 0.4% in February.
Inflation has been found to disproportionately affect women — and data is showing that some of the economic progress for American women is already unraveling.
The PCE price index and other inflation data face heightened scrutiny in the coming months as the market is becoming more at odds with the Fed’s base case.
Consumer inflation may have cooled off a little in February, but economists expect it is still running at a high pace.
So, after a year of inflation fighting, how are things going? In short, OK.
The Federal Reserve is unlikely to be able to bring down inflation without having to push rates considerably higher, according to a research paper.
Price growth will likely stay higher this year, and the Federal Reserve is poised to continue to hike interest rates.
Investors will get a slight reprieve next week as Wall Street gets ready to close the books Tuesday on a pretty dismal month.
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